JSE-listed Kumba Iron Ore expects to deliver a stronger financial performance, underpinned by higher average iron-ore export prices and a weaker rand:dollar exchange rate for the six months ending June 30.
Headline earnings and basic earnings for the period are expected to increase by 160% year-on-year to between R4.76-billion and R4.71-billion.
Headline earnings per share (HEPS) and earnings per share (EPS) are expected to also increase by about 160% year-on-year to between R14.90 and R14.73.
Kumba reported headline earnings and basic earnings of R2.98-billion and R2.94-billion, respectively, for the first half of 2018, while its HEPS and EPS for the comparative period were R9.31 and R9.21, respectively.
Kumba’s interim results for the six months will be released on July 23.