Anglo American PLC Anglo American Platinum earnings reconciliation (8003L)
July 24 2017 - 1:22AM
UK Regulatory
TIDMAAL
RNS Number : 8003L
Anglo American PLC
24 July 2017
24 July 2017
Anglo American plc notification:
Anglo American Platinum Limited interim results
2017
Anglo American wishes to draw attention to Anglo American
Platinum Limited's announcement of its results for the six months
ended 30 June 2017. Anglo American Platinum Limited reported
headline earnings of R747 million.
Anglo American will report underlying earnings in respect of
Anglo American Platinum Limited of $37 million for the six months
ended 30 June 2017, which takes into account certain
adjustments.
6 months 6 months Year
ended ended ended
30.06.17 30.06.16 31.12.16
$ million
---------------------------------- ----------- --------- ---------
Anglo American Platinum Headline
earnings 56 107(1) 126
Restructuring costs - 14 14
Other adjustments (6) (10) (23)
---------------------------------- ----------- --------- ---------
50 111 117
Impact of Anglo American
Platinum restatements(2) - (41) (56)
---------------------------------- ----------- --------- ---------
50 70 61
Non-controlling interests (10) (14) (12)
Exploration 2 2 5
Elimination of intercompany
interest 35 38 72
Depreciation of assets fair
valued on acquisition (8) (8) (16)
Other adjustments (13) - (5)
Corporate cost allocation (19) (20) (40)
Contribution to Anglo American
underlying earnings 37 68 65
---------------------------------- ----------- --------- ---------
(1) Restated.
(2) During the year ended 31 December 2016, Anglo American
Platinum Limited identified certain computational errors affecting
its results reported in prior periods, the impact of which was
considered material to Anglo American Platinum Limited but was not
material to Anglo American. Consequently, the affected results for
the years ended 31 December 2015 and earlier, and for the six
months ended 30 June 2016, have been restated in the individual
financial statements of Anglo American Platinum Limited but have
been corrected in the year ended 31 December 2016 in Anglo
American's financial statements.
Anglo American will report results for the six months ended 30
June 2017 on 27 July 2017. The above figures are unaudited.
Underlying earnings
Underlying earnings is profit attributable to equity
shareholders before special items and remeasurements, and is
therefore presented after net finance costs, income tax and
non-controlling interests. Special items are those items of
financial performance that the Group believes should be separately
disclosed to assist in the understanding of the underlying
financial performance achieved by the Group.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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