Friday preview: Anglo American reports annual results

13th Feb 2014 14:19

Anglo American reports its annual results on Friday following a year of cost cuts amid falling commodity prices. The FTSE 100 miner has consolidated its nine export and marketing offices into two regional hubs and reviewed all its sales activities in an effort to boost earnings. This has resulted in a new commercial unit, which is expected to add $400m to the company's profits by 2016. Chief Executive Mark Cutifani has said 2013 was a year of change for the firm as it slashed costs across the board including selling off the corporate Gulfstream jet and restructuring mining labour forces.The company has been hit by slowing demand from China and falling prices. Currency dips in emerging markets, where some of Anglo's mining operations are based, have also weighed on results. Anglo is expected to report a 19% fall in earnings per share to 111.79p, according to data compiled by Digital Look. Revenues and pre-tax profits are tipped to come in at £19.1bn and £3.1bn respectively.Following the earnings session, economic data will be released including gross domestic product figures in Germany and the Eurozone and the University of Michigan's US confidence report. Also to watch out for overnight will be the latest Consumer Price Index data in China. The Russian Federation is to decide on interest rates.Friday February 14thINTERIM DIVIDEND PAYMENT DATEAnite, Consort Medical, CVC Credit Partners European Opportunities Ltd EURO, CVC Credit Partners European Opportunities Ltd GBP, QinetiQ GroupQUARTERLY PAYMENT DATEBritish Land CoINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (EU) (10:00)Capacity Utilisation (US) (16:30)GDP (Flash Estimate) (EU) (10:00)Gross Domestic Product (GER) (07:00)Import and Export Price Indexes (US) (13:30)Industrial Production (US) (16:15)U. of Michigan Confidence (Prelim) (US) (14:55)Q4Afarak Group (DI)FINALSAfarak Group (DI), Anglo American, Coca-Cola HBC AG (CDI), Heavitree Brewery, Hrvatske Telekom D.D GDR (Reg S), Riverstone Energy LimitedEGMSBlueCrest AllBlue Fund Ltd. GBP Shares, Qannas Investments LtdFINAL DIVIDEND PAYMENT DATENumis Corporation, ShaftesburyRD