Business
Final Results
Final Results.
About this update from Antofagasta Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 4951C Antofagasta PLC 08 March 2011 \n \n\n \n Antofagasta plc\n \nPreliminary Results Announcement for the year ended 31 December 2010\n \n8 March 2011 \nHIGHLIGHTS \n\n\n\n\nFULL YEAR TO 31 DECEMBER\n\n\n\n\n\n2010\n\n\n2009\n\n\n% Change\n\n\n\n\nGroup revenue\n\n\nUS$'m\n\n\n4,577.1\n\n\n2,962.6\n\n\n54.5\n\n\n\n\nCash flows from operations\n\n\nUS$'m\n\n\n2,433.9\n\n\n1,167.8\n\n\n108.4\n\n\n\n\nNet earnings(1)\n\n\nUS$'m\n\n\n1,051.8\n\n\n667.7\n\n\n57.5\n\n\n\n\nEarnings per share\n\n\ncents\n\n\n106.7\n\n\n67.7\n\n\n57.5\n\n\n\n\nNet cash at year end\n\n\nUS$'m\n\n\n1,345.1\n\n\n1,595.7\n\n\n(15.7)\n\n\n\n\nTotal dividend per share for the year \n(Ordinary: 2010 - 16.0 cents; 2009 - 9.4 cents; up 70.2%)\n(Special: 2010 - 100.0 cents; 2009 - 14.0 cents; up 614.3%)\n\n\ncents\n\n\n116.0\n\n\n23.4\n\n\n395.7\n\n\n\n\nAverage LME copper price (per pound)\n\n\ncents\n\n\n342.0\n\n\n234.2\n\n\n46.0\n\n\n\n\nGroup copper production\n\n\n'000 tonnes\n\n\n521.1\n\n\n442.5\n\n\n17.8\n\n\n\n\nGroup weighted average cash costs(2) (net of by-product credits)\n\n\ncents\n\n\n104.0\n\n\n96.3\n\n\n8.0\n\n\n\n\nGroup weighted average cash costs(2) (excluding by-product credits)\n\n\ncents\n\n\n137.3\n\n\n120.3\n\n\n14.1\n\n\n\n\nMarket molybdenum price (per pound)\n\n\nUS$\n\n\n15.7\n\n\n11.1\n\n\n41.4\n\n\n\n\nGroup molybdenum production\n\n\n'000 tonnes\n\n\n8.8\n\n\n7.8\n\n\n12.8\n\n\n\n\n \n(See footnotes on page 3)\n· A record year for the Group, achieving record revenues of US$4,577.1 million (a 54.5% increase on 2009) and production of 521,100 tonnes (a 17.8% increase on 2009).\n· Strong financial performance with earnings per share of 106.7 cents (123.0 cents before withholding tax),compared with 67.7 cents in 2009. The remittance of funds from Chile to fund the Group dividend has given rise to withholding tax as usual, and given the level of dividend proposed for this year withholding tax equating to 16.3 cents per share(3) has been recognised in 2010. \n· Successful delivery of growth projects...