Weak commodity prices, South Africa strike hit Anglo H1 earnings

Reuters - UK Focus

LONDON, July 25 (Reuters) - Global miner Anglo American (LSE: AAL.L - news) , posted on Friday a fall in first half profits in line with analysts' forecast, hit by weaker commodity prices and by a lengthy mining strike that has slashed its platinum output.

Anglo, the first of the largest global miners to post results for the six months to June, is cutting costs and planning to sell some underperforming assets as part of a restructuring plan it announced last year.

First (Other OTC: FSTC - news) -half underlying operating profit fell 10 percent to $2.9 billion, in line with consensus estimate.

Underlying earnings per share (EPS) rose 2 percent to $1, compared with an analysts' forecast of $0.93. (Reporting by Silvia Antonioli; editing by William Hardy)