Kumba Iron Ore says the stronger rand and lower export iron-ore prices negatively impacted on its headline earnings and earnings for the six months to June 30.
In a trading update on Monday, the iron-ore miner said its headline earnings and earnings are likely to be at least R921-million and R917-million lower, respectively, than the R4.60-billion and R4.59-billion reported for the first six months of 2017.
Headline earnings per share (HEPS) and earnings per share (EPS) are also likely to be at least R2.88 and R2.87 lower (at least 20% lower), respectively, than the reported HEPS of R14.42 and EPS of R14.37 for the comparative period.