Johannesburg - Kumba Iron Ore [JSE:KIO], a member of the Anglo American group, is currently finalising its results for the year ended 31 December 2016.
It will be released on Sens on 14 February 2017.
The company indicated that headline earnings per share (Heps) and basic earnings per share (EPS) for the period would be at least 20% higher than the previous comparative period.
Shareholders are advised that headline earnings for the period are likely to be between R8 453m and R8 890m, with basic earnings for the period expected to be between R8 351m and R8 782m.
Heps is likely to be between R26.36 and R27.72, an increase of between 123% and 135%. Basic EPS is expected to be between R26.04 and R27.38.
Reported headline earnings and basic earnings for the comparative period were R3 792m and R469m respectively, while reported Heps and EPS for the comparative period were R11.82 and R1.46 respectively.
The company said the increase in earnings is largely attributable to the increase in export iron ore prices, as well as the impairment charge of R5 978m that was included in basic earnings, but excluded from headline earnings in the comparative period.
The financial information, on which the trading statement is based, has not been reviewed or reported on by the company's external auditors.
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