Anglo American plc notification: Anglo American Platinum Limited interim results 2011
25 July, 2011
Anglo American wishes to draw attention to Anglo American Platinum Limited's announcement of its results for the six months ended 30 June 2011.
Anglo American will report underlying earnings in respect of Anglo American Platinum Limited of US$285 million for the six months ended 30 June 2011, which takes into account certain adjustments.
| $m | |
|---|---|
| IFRS headline earnings (US dollar equivalent of published) | 469 |
| Exploration | 2 |
| Operating and financing remeasurements (net of tax) | (51) |
| Restructuring costs included in headline earnings (net of tax) | 6 |
| Other adjustments | 2 |
| 428 | |
| Non-controlling interests | (87) |
| Elimination of intercompany interest | (1) |
| Depreciation of assets fair valued on acquisition (net of tax) | (30) |
| Corporate cost allocation | (25) |
| Contribution to Anglo American plc underlying earnings | 285 |
Anglo American will report results for the six months ended 30 June 2011 on 29 July 2011. The above figures are unaudited.
Underlying Earnings
Underlying Earnings is net profit attributable to equity shareholders, adjusted to remove special items and remeasurements, and any related tax and non-controlling interests. Special items are those items of financial performance that the Group believes should be excluded from underlying financial performance. Operating special items include impairment charges and reversals and other exceptional items, including restructuring costs. Non-operating special items include profits and losses on disposals of investments and businesses as well as certain adjustments relating to business combinations. 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 impact arising in US dollar functional currency entities on deferred tax balances.