Kumba Iron annual earnings rise on higher ore rates
JOHANNESBURG – South Africa’s Kumba Iron Ore on Tuesday posted a rise in annual earnings, underpinned by higher iron ore prices and currency gains from a weaker rand exchange rate to the dollar.
The company, a unit of Anglo American, reported headline earnings per share (HEPS) of 50.88 rand for the year ended Dec. 31, compared with 30.28 rand a year earlier.
HEPS is the primary profit measure in South Africa that strips out certain one-off items.
Source: iol.co.za
