Anglo American sees 20% returns after streamlining assets

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

Anglo American (AAUKY, AAUKF) CEO Mark Cutifani tells Bloomberg he will double profitability once he cleans up the company in the coming years, and then he’ll be able to increase it again.

Anglo already has identified some of assets it will sell, Cutifani says without elaborating; he has set a goal of improving Anglo’s return on capital to at least 15% by 2016 from ~8% last June, and he’ll consider disposing of any asset that pulls down the average.

Anglo plans to cut senior-level jobs at its South African office, according to a local report yesterday.