Anglo American share price down on FTSE 100 despite doubling FY profit

Shares in Anglo American were down on the FTSE 100 in morning trading despite the mining company more than doubling its pre-tax profit in the full year ended 31 December 2010.

Group revenue was reported as being up 34 per cent to £32.9 billion, while pre-tax profit jumped 171 per cent to £10.9 billion.

Anglo American said that its net debt at the end of the year stood at $7.4 billion.

The group said that its total dividends for the year would be $0.65 per share.

By 10:35 shares in Anglo American were down 2.41 per cent on the FTSE 100 to 3,216.00 pence per share.