Anglo Posts $5bn Operating Profit

Anglo said that $4,5-billion of the operating profit was from core operations.Underlying earnings of $2,6-billion and underlying earnings a share of $2,14 were reported. Profit attributable to equity shareholders was $2,4-billion and net debt was held at $11-billion. Committed undrawn bank facilities and cash as at December 31, 2009, totalled $12-billion.

The company, headed by CEO Cynthia Carroll, said that asset optimisation and procurement efficiencies had realised savings of more than $1,6-billion, $1,4-billion of which was from core operations. An asset optimisation and procurement target of $2-billion has been set from core businesses alone by 2011.