Anglo American earnings hit by $1.9B in writedowns

|About: Anglo American plc (AAUKF)|By:, SA News Editor

Anglo American (AAUKF) made its second consecutive net loss in 2014 after the mining company wrote down wrote down $1.9B in the value of assets as commodity demand continued to be soft.

Still, net losses narrowed to $961M from $1.47B a year earlier but badly missed consensus for a profit of $2.01B.

Underlying profit fell 7% to $2.7B, above analyst forecasts of $2.38B.

Total revenue +1% to $33.06B.

Net debt rose to $10.7B from $8.5B and could reach $15B by the end of 2014.

Despite the loss, Anglo American maintained its dividend at $0.85 a share. (PR)