Share

Higher prices boost Kumba

Johannesburg - Kumba Iron Ore [JSE:KIO] said on Thursday it expects a rise in first-half earnings lifted by higher iron ore export prices.

Kumba, the world's 10th-largest iron ore producer and a unit of Anglo American [JSE:AGL], said it expects headline earnings per share for the six months to end-June at between R26.80 and R28.70.

This compares with headline earnings per share of R20.28 reported a year earlier.

Headline earnings are the main profit gauge in South Africa and strip certain one-off and non-trading items.

"The increase in earnings is primarily attributable to higher export iron ore prices which were partially offset by the strengthening of the average exchange rate of the rand to the US dollar during the period," the company said in a statement.

The local currency has gained 13% against the dollar over the past 12 months.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders