Friday preview: Anglo American releases annual results

FTSE 100 mining group Anglo American unveils its 2012 results Friday, one day after rival Rio Tinto posted its first-ever annual loss.

FTSE 100 mining group Anglo American unveils its 2012 results Friday, one day after rival Rio Tinto posted its first-ever annual loss.

According to market data on Digital Look, the group is expected to report revenues to the tune of £18.4bn and pre-tax profits of £3.3bn. Earnings per share are anticipated to fall 62% to 121.64p.

The company's struggles have been duly noted ahead of the results.

Earlier this month Anglo said it would take a loss of $225m at its troubled South African platinum division for last year, compared with a $410m profit in 2011.

Anglo American Platinum, or Amplats, in January announced a major restructuring programme after being hit by strikes and falling prices in 2012. The shake-up would see the company close down some mines and consolidate certain assets, a move that would affect 14,000 jobs.

Amplats reported a IFRS headline loss of 1,468m South African rand, or $170m, for the 12 months to December 31st, compared with a $527m profit in 2011.

Last month the parent company reported mixed output in the fourth quarter, with coal, copper and diamond output rising year-on-year, but nickel, platinum and iron-ore output falling partly because of illegal strikes in South Africa.

Anglo has been undergoing a massive shake-up including the appointment of new Chief Executive officer Mark Cutifani, brought in to turn the business around.

Similarly Rio Tinto has welcomed Sam Walsh to the helm. The company posted Thursday a net loss of $2.9bn, a 151% drop from the $5.3 net profits reported the year before.

Anglo's shares were up 0.27% to 2,019.00p at 15:37 Thursday.

Friday February 15

INTERIM DIVIDEND PAYMENT DATE

Anite, Consort Medical, QinetiQ Group, Volex

QUARTERLY PAYMENT DATE

Abbott Laboratories, British Land Co, Marsh & Mclennan Cos Inc.

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Capacity Utilisation (US) (16:15)

Industrial Production (US) (16:15)

U. of Michigan Confidence (US) (15:00)

Wholesale Price Index (GER) (07:00)

GMS

Consort Medical

FINALS

Anglo American

SPECIAL DIVIDEND PAYMENT DATE

Carpathian

EGMS

Assura Group Ltd.

UK ECONOMIC ANNOUNCEMENTS

Claimant Count Rate (09:30)

Internet Retail Sales (09:30)

Retail Sales (09:30)

Unemployment Rate (09:30)

BoE's Martin Weale will speak at the Warwick Economics Summit 2013 on Saturday, text released on Friday.

FINAL DIVIDEND PAYMENT DATE

CareTech Holding, Downing Income Vct, Downing Income Vct 4, Shaftesbury

Recommended

Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021

Most Popular

How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
Why the world’s most important economic data release has unnerved markets
US Economy

Why the world’s most important economic data release has unnerved markets

The US added only 194,000 jobs in September, far shorter than the 500,000 that were expected. John Stepek explains why markets didn't react as they no…
11 Oct 2021