JOHANNESBURG – South Africa's Kumba Iron Ore reported a 12% rise in annual profit on Tuesday, underpinned by higher costs for the steel-making ingredient.
The company, a unit of Anglo American, said headline earnings came in at R9.7-billion ($813.36-million), or R30.47 a share, in the year ended December 2017, compared with R8.7-billion a year ago.
Headline EPS is the primary profit measure in South Africa, and strips out certain one-off items.