LONDON (dpa-AFX) - British miner Anglo American Plc (AAUKY.PK, AAL.L) reported Thursday wider loss in its first half as revenues were hit by weak production, despite higher copper prices.
Further, the Board has proposed an interim dividend of $0.07 per share, 83 percent down from last year's $0.42 per share.
On the LSE, Anglo American shares were losing around 5 percent to trade at 2,120.00 pence.
In the first half, the company recorded loss attributable to equity shareholders of $1.88 billion, compared to last year's loss of $672 million. Loss per share was $1.58, compared to loss of $0.55 a year ago.
Basic underlying earnings per share were $0.15, down 86 percent from $1.06 a year ago.
Ona continuing operations basis, basic underlying earnings per share were $0.32, compared to $0.71 last year.
Underlying EBITDA from continuing operations was $2.96 billion, down 20 percent from last year, largely driven by $0.5 billion lower earnings from De Beers due to continuing challenging trading conditions.
EBITDA margin dropped to 32 percent from prior year's 37 percent.
Revenue declined 7 percent to $8.95 billion from prior year's $9.58 billion.
Production volumes decreased by 9 percent on a copper equivalent basis, reflecting lower production at Copper Chile and De Beers.
Copper production decreased by 13 percent versus the prior period, while Iron ore production increased by 2 percent.
Manganese ore production fell 4 percent, and the drop was 23 percent in Diamonds production.
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