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Mineweb reported Anglo American (LSE:AAL) missed expectations with an almost 40 percent drop in profits as faltering global economic growth hit prices.
Mineweb reported Anglo American (LSE:AAL) missed expectations with an almost 40 percent drop in profits as faltering global economic growth hit prices.
As quoted in the market news:
Anglo, the first UK-listed mining major to report first-half earnings, came in below market forecasts with a 38 percent drop in operating profit to $3.7 billion, a miss blamed on spiralling production costs.
Underlying earnings per share came in at $1.38, almost half last year’s level and again below expectations.