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Big jump in Kumba earnings

Jul 09 2010 09:14

Company Data

Anglo American Plc [JSE : AGL]

Last traded R261.89
Change R-3.11
% Change -1.17%
Cumulative volume 4.99m
Market cap R351.71bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Kumba Iron Ore Ltd [JSE : KIO]

Last traded R512.00
Change R-3.00
% Change -0.58%
Cumulative volume 249,359
Market cap R164.89bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Arcelormittal Sa Ltd [JSE : ACL]

Last traded R52.45
Change R0.40
% Change 0.77%
Cumulative volume 655,769
Market cap R23.38bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - Kumba Iron Ore [JSE:KIO] said on Friday it expects first-half headline earnings per share to rise due to higher export iron ore prices and sales volumes.

Kumba, a unit of global miner Anglo American [JSE:AGL] and the world's 10th largest producer of iron ore, said headline earnings per share were expected to be between 1 900c to 2 055c, up from 1 076 cents in the comparable six-month period.

"The increase in earnings is largely attributable to an increase in export iron ore prices and a 10% increase in export sales volumes in the period," Kumba said in a statement.

Kumba, currently involved in an iron ore supply dispute with ArcelorMittal SA [JSE:ACL], said it had accounted for revenue at plus 3 percent of cost to the steelmaker in determining earnings for the period in the absence of agreement on an interim price.

Kumba in February terminated the long-term deal under which it sold ore to ArcelorMittal South Africa at a discount and said it would then sell to the steelmaker at market rates from March.

- Reuters

 
 
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