Kumba expects lower H1 earnings amid lower iron-ore prices
JOHANNESBURG (miningweekly.com) – Iron-ore miner Kumba Iron Ore expects to report lower earnings for the six months ended June 30, mostly owing to a decline in iron-ore prices.
The company on Friday said it expected headline and basic earnings for the period to be between R6.26-million and R6.9-million, compared with headline earnings and basic earnings of R7.75-million and R7.76-million respectively during the first half of 2013.
Headline earnings per share (HEPS) and earnings per share (EPS) for the period were expected to be between R19.50 and R21.50, compared with HEPS of R24.13 and EPS of R24.16 during the prior corresponding period.
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