Trading statement for the six months ended 30 June 2011
07 July, 2011
Kumba Iron Ore Limited is currently finalising its results for the six months ended 30 June 2011 ("the period"), which will be released on SENS on or about 21 July 2011. Headline earnings and basic earnings for the period are likely to be between R8,600 million and R9,200 million, with headline earnings per share ("HEPS") and earnings per share ("EPS") to be between R26.80 and R28.70.
Headline earnings and basic earnings reported in respect of the results for the six months ended 30 June 2010 ("the comparative period") were R6,492 million and R6,489 million respectively while HEPS and EPS reported for the comparative period were R20.28 and R20.27 respectively.
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 forecast financial information on which this trading statement is based has not been reviewed and reported on by the Company's external auditors.