Shareholders are advised that Kumba is currently finalising its results for the six months ended 30 June 2017, which will be released on the Stock Exchange News Service of the JSE Limited (SENS) on 25 July 2017.
In accordance with section 3.4(b) of the JSE Limited Listings requirements, and further to the trading statement released on SENS on 11 May 2017 in which 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 six months ended 30 June 2016, the comparative period, shareholders are advised that headline earnings for the period are likely to be between ZAR4 373 million and ZAR4 741 million, with basic earnings for the period expected to be between ZAR4 355 million and R4,722 million.
HEPS is likely to be between ZAR13.70 and ZAR14.85, an increase of between 46% and 58%. Basic EPS is expected to be between ZAR13.64 and ZAR14.79, an increase of between 47% and 59%.
Reported headline earnings and basic earnings for the comparative period (released on SENS on 26 July 2016) were ZAR3 009 million and ZAR2 974 million respectively, while reported HEPS and EPS for the comparative period were ZAR9.41 and ZAR9.30 respectively.
The increase in earnings for the period is largely attributable to higher export iron ore prices, partially offset by the stronger Rand/US$ exchange rate. More information will be provided in the Company’s results for the period to be released on SENS on 25 July 2017.
The financial information, on which this trading statement is based, has not been reviewed and reported on by the company’s external auditors.