Kumba issues a profit warning

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Kumbaironore INDEPENDENT MEDIA Kumba's profit has fallen. Photo: Simphiwe Mbokazi.

Johannesburg - Kumba Iron Ore (KIO) advised on Wednesday that for the 12 months ended December 2012‚ its with headline earnings per share and earnings per share are expected to be between R36.30 and R38.80 compared with HEPS and EPS reported for the comparative period of R53.13 and R53.11 respectively.

Its headline earnings and basic earnings for the period are likely to be between R11.650 billion and R12.450 billion compared with headline earnings and basic earnings of R17.048 billion and R17.042 billion a year ago.

The company said the decrease in earnings is largely attributable to a decline in export iron ore prices in the period and the impact on productionfollowing the illegal strike at Sishen Mine. - I-Net Bridge

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