Kumba expects FY earnings lift following rally in iron-ore prices
JOHANNESBURG (miningweekly.com) – Kumba Iron Ore, which is currently finalising its results for the 12 months ended December 31, 2013, expects headline earnings and basic earnings for the period to be between R14.9-billion and R15.7-billion.
Headline earnings a share (Heps) and earnings a share (Eps) were expected to be between R46.60 and R49.
Headline earnings and basic earnings reported for the 12 months ended December 31, 2012, were both R12.2-billion, while Heps and Eps for the comparative period were R37.97 and R38.02 respectively.
The increase in earnings was largely attributable to an increase in export iron-ore prices and a weaker rand:dollar exchange rate, which was partially offset by lower production from Kumba’s Sishen mine, in the Northern Cape.
Kumba will release its results on February 11.
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