Kumba CEO Themba Mkhwanazi
JOHANNESBURG (miningweekly.com) – JSE-listed Kumba Iron Ore expects its headline earnings per share (HEPS) and basic earnings per share (EPS) for the period ended June 30 to be at least 20% higher than the comparative period.
Headline earnings for the period are likely to be between R4.37-million and R4.74-million, with basic earnings for the period expected to be between R4.36-million and R4.72-million.
HEPS is likely to be between R13.70 and R14.85 – an increase of between 46% and 58% – the company said in a statement on Friday.
“Basic EPS is expected to be between R13.64 and R14.79, an increase of between 47% and 59%”.
The increase in earnings for the period is largely attributable to higher export iron-ore prices, partially offset by the stronger rand/US dollar exchange rate.
The company’s results for the period will be released on July 25.