By Oliver Griffin

Anglo American PLC (AAL.LN) said on Thursday that net profit in 2017 almost doubled on the previous year, and declared an interim dividend of 54 cents per share.

The mining company said net profit for the year ended Dec. 31 was $3.17 billion, from $1.59 billion in 2016. A consensus estimate compiled by FactSet had forecast net income for the year of $3.25 billion.

Revenue for the year rose 22% to $26.24 billion, Anglo American said. The company said net debt fell to $4.50 billion for the year, from $8.49 billion at the end of 2016.

The company said hat diamond production at De Beers--where Anglo American holds an 85% stake--grew 22% to 33.5 million carats, and forecast diamond production in 2018 in a range between 34 million and 36 million carats.

Anglo American said that following its return to dividend payments at the half year, it would declare a final dividend of 54 cents per share. The total dividend for the year will be $1.02 per share, Anglo American said.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

February 22, 2018 02:46 ET (07:46 GMT)

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