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24 Feb 2022 | 07:40

Anglo American posts record FY profit amid strong demand, prices

(Sharecast News) - Miner Anglo American posted a jump in full-year profit on Thursday thanks to strong demand and prices. In the year to the end of December, group underlying earnings before interest, tax, depreciation and amortisation rose to a record $20.6bn from $9.8bn, with revenue up 63% to $41.6bn.

Chief executive officer Mark Cutifani said: "In a year of two distinct halves, we recorded strong demand and prices for many products as economies recouped lost ground, spurred by government stimulus."

He said that copper and platinum group metals - essential to the global decarbonisation imperative - and premium quality iron ore for greener steelmaking, supported by an improving market for diamonds, all contributed to a record financial performance.

The miner proposal a final dividend of $2.1bn, equal to $1.18 per share - consistent with its 40% payout policy - and a $0.50 per share special dividend.
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