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

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

The rising dollar is proving bad news for most other assets – will it last?
Investment strategy

The rising dollar is proving bad news for most other assets – will it last?

Precious metals, stocks and pretty much every other asset has taken a tumble as the US dollar strengthens. Dominic Frisby looks at how long this trend…
23 Sep 2020
Oil producers are back at their Covid-19 lows – is it time to buy?
Oil

Oil producers are back at their Covid-19 lows – is it time to buy?

With demand for oil hammered by Covid-19 and talk of “peak oil demand”, there are lots of good reasons to be bearish on oil producers. So, asks John S…
22 Sep 2020
Why you should stuff your end-of-pandemic portfolio with Chinese stocks
China stockmarkets

Why you should stuff your end-of-pandemic portfolio with Chinese stocks

For an end-of-pandemic portfolio, you need assets that can cope with today’s volatility. And that, says Merryn Somerset Webb, means Chinese stocks.
14 Sep 2020