Anglo American

Anglo American profit halved in 2009

Anglo-American-LogoAnglo American PLC, the mining giant, on Friday, announced posted a 53 per cent fall in its bottom-line for the full year 2009. It also announced no dividend for the year for the second consecutive year.

The company's net profit after tax slumped to $2.43 billion in the last fiscal as compared to $5.22 billion in the previous financial year. Its revenue declined 25 per cent to $24.4 billion.

Changes in Business and Management Portfolios Announced by Anglo American

Anglo American

Anglo American, country's core mining company, today announced that it will be making significant overall changes in business as well as management portfolios to ensure streamlined functioning.

With a new Chairman, appointed in August amidst a takeover approach, the firm is all set to restructure and do away with about a quarter of its overhead staff. With the move, Anglo American will be saving about $120 million a year.