Kumba anticipating slightly lower earnings
11 July, 2014
Kumba is currently finalising its results for the six months ended 30 June 2014 ("the period"), which will be released on SENS on 22 July 2014. Headline earnings and basic earnings for the period are expected to be between R6 255 million and R6 895 million, with headline earnings per share ("HEPS") and earnings per share ("EPS") to be between R19.50 and R21.50.
Headline earnings and basic earnings reported for the six months ended 30 June 2013 (as released on SENS on 23 July 2013) ("the comparative period") were R7 748 million and R7 759 million respectively while HEPS and EPS reported for the comparative period were R24.13 and R24.16 respectively.
The decrease in earnings is largely attributable to a decrease in export iron ore prices.