Annual Report 2000 in PDF - Antofagasta plc

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Notes to the Financial Statements22 Reconciliation of Movements in Shareholders' FundsUS DollarsSterling2000 1999 2000 1999US$m US$m £m £mProfit for the financial year 138.2 15.9 90.7 9.7Dividends (73.9) (25.6) (50.9) (15.9)64.3 (9.7) 39.8 (6.2)Other recognised gains and losses relating to the year – exchange 18.0 3.9 29.6 8.582.3 (5.8) 69.4 2.3Issue of ordinary shares – 0.6 – 0.4Share premium on issue – 37.0 – 22.8Exchange movement on sterling denominated share capital andshare premium (21.1) (8.2) – –Net addition to shareholders’ funds 61.2 23.6 69.4 25.5Opening shareholders’ funds 887.3 863.7 545.1 519.6Closing shareholders’ funds 948.5 887.3 614.5 545.1Shareholders' funds at the end of the year may be analysed as follows:US DollarsSterling2000 1999 2000 1999US$m US$m £m £mGroupNon-equity 3.0 3.2 2.0 2.0Equity 945.5 884.1 612.5 543.1948.5 887.3 614.5 545.1ANTOFAGASTA PLC Annual Report 2000CompanyNon-equity 3.0 3.2 2.0 2.0Equity 313.6 405.0 200.1 249.4316.6 408.2 202.1 251.470
23 Notes to the Consolidated Cash Flow Statementa) Reconciliation of operating profit/(loss) to operating cash flowsUS DollarsSterling2000 1999 2000 1999US$m US$m £m £mOperating profit/(loss) 246.0 (8.6) 162.4 (5.3)Depreciation charges 105.9 22.4 69.7 13.9Loss on disposal of tangible fixed assets (including provisions for write down) 3.0 12.3 2.0 7.6Increase in stocks (6.0) (20.9) (4.0) (12.9)Increase in debtors (70.5) (0.1) (46.5) (0.1)Increase in creditors and provisions 48.2 (0.8) 31.8 (0.4)Net cash inflow from operating activities 326.6 4.3 215.4 2.8The adjustments to operating profit in 1999 included US$11.1 million (£6.8 million) relating to loss on disposal oftangible fixed assets and US$0.9 million (£0.6 million) in respect of stock write-offs which were treated as exceptionalitems in the profit and loss account. Further details are given in Note 4. There were no exceptional items affectingoperating profit in 2000.b) Analysis of cashflows for headings netted in the cash flow statementUS DollarsSterling2000 1999 2000 1999US$m US$m £m £mReturns on investments and servicing of financeDividends received from other fixed asset investments 31.5 5.4 20.1 3.3Interest received 22.3 19.6 14.7 12.2Interest paid (86.0) (39.6) (56.7) (24.5)Preference dividends paid (0.2) (0.2) (0.1) (0.1)Dividends paid to minority interests (10.2) – (6.7) –Net cash inflow from returns on investments and servicing of finance (42.6) (14.8) (28.7) (9.1)Interest received and paid includes net interest capitalised in relation to the El Tesoro development. In 1999, net interestin relation to both the Los Pelambres and El Tesoro developments was capitalised. Such interest received in the yearamounted to US$5.0 million (£3.3 million; 1999 – US$4.2 million; £2.6 million) and such interest paid amounted toUS$2.8 million (£1.8 million; 1999 – US$39.5 million; £24.4 million).ANTOFAGASTA PLC Annual Report 200071
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ANNUAL REPORT 2000
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Directors and AdvisorsDirectorsA A
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Chairman’s ReviewMININGMinera Los
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View of crushing facilitiesDome ove
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Harvesting cathodes from electrowin
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Chairman’s ReviewTRANSPORT ANDREA
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Chairman’s ReviewANTOFAGASTA PLC
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Financial ReviewBasis of Financial
Page 22 and 23: Financial ReviewIncome from Other F
Page 24 and 25: Financial ReviewCash Flows and Fina
Page 26 and 27: Production StatisticsFor the year e
Page 28 and 29: Report of the DirectorsThe Director
Page 30 and 31: Report of the DirectorsSpecial Busi
Page 32 and 33: Corporate GovernanceGiven its small
Page 34 and 35: Report on Remuneration and Related
Page 36 and 37: Auditors’ Report to the Members o
Page 38 and 39: Consolidated Profit and Loss Accoun
Page 40 and 41: Consolidated Statement of Total Rec
Page 42 and 43: Parent Company Balance SheetAt 31 D
Page 44 and 45: Notes to the Financial Statements1
Page 78 and 79: Five Year Summary - US DollarsConso
Page 80 and 81: Notice of MeetingAntofagasta plcNot
Page 82: Designed by RDA. Printed by Royle F
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Annual Report 2000 in PDF - Antofagasta plc

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