Anglo American plc notification: De Beers Société Anonyme interim results 2010
23 July, 2010
Anglo American wishes to draw attention to the De Beers Société Anonyme (De Beers) announcement of their interim results for the six months ended 30 June 2010.
Anglo American will report underlying earnings in respect of De Beers of US$148 million for the six months ended 30 June 2010, which takes into account certain adjustments.
$m | |
|---|---|
| De Beers underlying earnings (100%) | 304 |
| Difference in IAS 19 accounting policy | 14 |
| De Beers underlying earnings – Anglo American basis (100%) | 318 |
| Anglo American 45% ordinary share interest | 143 |
| Income from preference shares | 8 |
| Other | (3) |
| Contribution to Anglo American plc underlying earnings | 148 |
Anglo American will report results for the six months ended 30 June 2010 on 30 July 2010. The above figures are unaudited.
Underlying Earnings
Underlying Earnings is net profit attributable to equity shareholders, adjusted for the effect of special items and remeasurements, and any related tax and non-controlling interests. Special items include those items of financial performance which the Group believes should be excluded from underlying financial performance, and principally relate to impairment and significant closure costs, exceptional legal provisions and profit or loss on disposals. Remeasurements include adjustments to ensure that the unrealised gains or losses on non-hedge derivative instruments are recorded in underlying earnings in the same period as the underlying transaction against which these instruments provide an economic, but not formally designated, hedge as well as foreign exchange impacts arising on certain deferred tax balances.