Kumba Iron Ore 2010 Results

RNS Number : 9720A

Anglo American PLC

10 February 2011

 



10 February 2011
Anglo American plc notification: Kumba Iron Ore Limited year end results 2010

Anglo American wishes to draw attention to Kumba Iron Ore Limited's announcement of its results for the year ended 31 December 2010.

Anglo American will report underlying earnings in respect of Kumba Iron Ore Limited of US$1,210 million for the year ended 31 December 2010, which takes into account certain adjustments.

	$m
IFRS headline earnings (US dollar equivalent of published)	1,964
Exploration	9
Other adjustments	1
	1,974
Non-controlling interests	(710)
Elimination of intercompany interest	2
Depreciation of assets fair valued on acquisition (net of tax)	(9)
Corporate allocation	(47)
Contribution to Anglo American plc underlying earnings	1,210

Anglo American will report results for the year ended 31 December 2010 on 18 February 2011.  The above figures are unaudited.

Underlying Earnings

Underlying Earnings is net profit attributable to equity shareholders, adjusted to remove the effect of 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 transactions 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.

 

END

 

 

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