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Kumba says full-year profit will be ‘at least’ 20% higher

Kumba says full-year profit will be ‘at least’ 20% higher

Photo by Duane Daws

17th December 2013

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – JSE-listed Kumba Iron Ore reported on Tuesday that its headline earnings and its basic earnings for the 2013 financial year would be “at least” 20% higher than the previous 12 months.

Headline earnings and basic earnings for the 2012 financial year were R12.198-billion and R12.212-billion, respectively. Headline earnings per share (HEPS) were R37.97 in 2012 and earnings per share (EPS) were R38.02.

“The increase in earnings is largely attributable to an increase in export iron ore prices and a weaker exchange rate, partially offset by lower production from Sishen mine during the period,” it reported in a trading statement.

HEPS and EPS were also likely to be at least 20% higher than those of the comparative period.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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