Share

Kumba Iron Ore finalising its results

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.

Read Fin24's top stories trending on Twitter:

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
19.02
-0.6%
Rand - Pound
24.01
-0.5%
Rand - Euro
20.53
-0.3%
Rand - Aus dollar
12.35
-0.0%
Rand - Yen
0.13
-0.6%
Platinum
900.40
+0.4%
Palladium
998.40
-0.3%
Gold
2,210.05
+0.7%
Silver
24.65
+0.0%
Brent Crude
86.09
-0.2%
Top 40
68,079
+0.6%
All Share
74,269
+0.5%
Resource 10
56,875
+2.2%
Industrial 25
103,593
+0.3%
Financial 15
16,463
-0.4%
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