Mining giant Anglo American reported plummeting profits as it released its results for the first half of the year on Friday.The group -- which rejected a merger proposal from rival Xstrata PLC last month -- said underlying earnings slumped by almost 70 percent in the first half of the year as the global meltdown took its toll on demand for commodities.
Pre-tax profits slumped to US 3.63 billion from US 6.47 billion on revenues of US 11.1 billion, a decline of 38 percent.
Underlying earnings brought even worse news as they reflected a decline to US 1.1 billion from US 3.48 billion.
Source : Sapa /jr
Date : 31 Jul 2009 08:49
