In South Africa Anglo Platinum says FY profit drops 86 pct

Amplats, a division of Anglo American Plc is undergoing a cost-cutting programme to deal with plunging prices and low demand for precious metal and the effects of a crippling five-month strike in 2014.

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Trucks leave an Anglo American Platinum (AMPLATS) processing plant near Rustenburg in this October 12, 2012 file photo. REUTERS/Mike Hutchings/Files play Trucks leave an Anglo American Platinum (AMPLATS) processing plant near Rustenburg in this October 12, 2012 file photo. REUTERS/Mike Hutchings/Files (Reuters)
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South Africa's Anglo American Platinum Ltd (Amplats) reported an 86 percent drop in full-year profit on Monday, hit by write-downs and restructuring costs amid plunging commodity prices.

Amplats said diluted headline earnings per share, the main gauge of profit that strips off certain one-off items, totalled 41 cents in the year to the end of December compared with 300 cents a year earlier.

Amplats, a division of Anglo American Plc is undergoing a cost-cutting programme to deal with plunging prices and low demand for precious metal and the effects of a crippling five-month strike in 2014.

($1 = 15.9786 rand)

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