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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.

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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.

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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

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