Anglo Restarts Dividend as Profits Double

Anglo American has seen profits double thanks to strong iron ore and coal earnings and the miner is paying down debt and restarting its dividend payment

Mathew Hodge 9 August, 2017 | 9:51AM

Anglo American (AAL) saw a profit of $1.87 billion in the first half of 2017, which was more than double last year’s. The increase was due to higher prices, with the impact of currency and cost inflation broadly offset by productivity improvements and cost savings.

The balance sheet has meaningfully improved, allowing dividends to restart

Iron ore, manganese and coal units saw pre-tax earnings nearly triple to $2.5 billion. This was largely due to increased prices for iron ore and metallurgical coal. Copper earnings grew nearly 40% to $600 million also due to price, while diamonds, platinum and nickel earnings were broadly flat.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Anglo American PLC1,973.80 GBX0.44

About Author

Mathew Hodge  is an equity analyst for Morningstar

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