Anglo American H1 Profit Jumps On Improved Consumer Demand

Anglo American PLC (AAUKY.PK) reported underlying EBITDA of $12.1 billion, 262% growth from $3.35 billion in the same period last year, driven by strong market demand.

Profit attributable to equity shareholders jumped to $5.188 billion or $4.18 per basic share from $471 million or $0.38 per share in the year-earlier period.

Revenue for the first half increased 114% to $21.779 billion from $10.187 billion last year.

"The strong recovery in consumer demand is expected to continue, as the global economy recovers from the impact of Covid-19. In addition, midstream capacity is expected to increase during the second half of the year, subject to the Covid-19 situation in India," Anglo American said.

The company has increased its interim dividend by 511% to $1.71 per share form last year. The Board also approved a special dividend of $0.80 per share.

"Our balanced investment programme is driving margin-enhancing volume growth of 20% over the next three years, including copper production from Quellaveco due to come on stream in 2022, and growth of 25-35% in the medium term. Our business is increasingly geared towards providing the future-enabling metals and minerals for a low carbon economy and to meet global consumer demand trends," said Mark Cutifani, Chief Executive of Anglo American.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Goldman Sachs Group, Inc. (GS) reported that its third quarter net earnings applicable to common shareholders increased 63 percent year-on-year. Net revenues were also significantly higher reflecting significantly higher net revenues in Investment Banking, Global Markets and Consumer & Wealth Management,... Butterball, LLC recalled about 14,107 pounds of ground turkey products for potential contamination with foreign materials, specifically blue plastic material, the U.S. Department of Agriculture's Food Safety and Inspection Service (FSIS) said in a statement. Specialized Bicycle Components, Inc. is recalling about 6,900 units of Tarmac SL7 Bicycles and Framesets for potential risk of fall and injury hazard, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the bicycle's fork steerer tube can crack or break after harsh impact such as hitting a deep pothole or other stress event, posing fall and injury hazards.
Follow RTT