SUPPLY NEWS - Anglo American posts $5.62 bln loss for 2015 as commodity prices slump

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Ewa Mantheyewa.manthey@fastmarkets.comCorrespondent+44 (0) 20 7337 2146

London 16/02/2016 - Resources company Anglo American posted a full-year net loss for 2015, it said on Tuesday, amid falling commodity prices.

The company lost $5.62 billion in 2015, compared with a loss of $2.51 billion the previous year, it said in a statement.

Underlying profit before interest and tax came in at $2.2 billion from $4.9 billion last year, a 55 percent drop.

The group's underlying earnings were $0.8 billion, a 63 percent decrease from  $2.2 billion in 2014.

Anglo earned 64 cents per share, compared with $1.73 per share the year before, it said.

The company's full-year sales fell 26 percent to $23 billion.

On Monday, Moody's cut the corporate credit rating of Anglo American to 'junk' and assigned a negative outlook for the company’s new rating, stressing that the current downturn in commodities prices will be worse than previous price dips.

(Editing by Martin Hayes)

 



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