AngloGold’s Full-Year Profit Drops 29% as Strikes Cut Output
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AngloGold Ashanti Ltd., the world’s third-biggest producer of the metal, said profit fell 29 percent in 2012, missing analysts’ estimates, after a strike that shut its South African mines cut production.
Adjusted earnings excluding one-time items dropped to $924 million, or $2.39 per share last year compared with $1.3 billion, or $3.36 per share 12 months earlier, the Johannesburg-based company said in a statement today. That compares with the $3.03 median prediction of 14 analysts surveyed by Bloomberg.