Friday preview: Anglo American releases annual results

14th Feb 2013 15:05

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 $5.8bn 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