Anglo Coal’s operating profit decreased by 29% to $614 million. This was mainly brought about by a disappointing performance from Australian operations, where port and rail infrastructure constraints across the industry, lower sales prices and an 11% appreciation of the local currency against the dollar resulted in significantly lower earnings.
During the period under review, Anglo Coal Australia has recorded an impairment of $153 million against certain Australian assets to reflect the latest commercial and operational conditions relating to those assets.
|$ million (unless otherwise stated)||2007||2006|
|Projects and corporate||(36)||(24)|
|Net operating assets||3,984||2,870|
|Share of Group operating profit||6%||10%|
|Share of Group net operating assets||15%||13%|
In 2007, Yang Quarry was reclassified from Industrial Minerals to Coal to align with internal management reporting. As such, the comparative data has been reclassified.