Johannesburg - Anglo American unit Kumba expects its profit to gain 23 percent in the first half to June, it says in an update issued on Thursday.
The listed company says headline earnings - a key measure of profitability - are likely to come in at between R2.875 billion and R3 billion.
Basic earnings for the period should come in at between R2.8 billion and R3 billion, it adds.
Kumba also expects headline earnings per share to be between R8.95 and R9.65 - an increase of between 14 percent and 23 percent.
Basic earnings per share are expected to be between R8.85 and R9.55, which is an increase of between 13 percent and 22 percent year-on-year.
Kumba explains the expected increase in earnings is mostly thanks to the derecognition of a deferred tax asset of R617 million in the previous corresponding period.
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Stripping this item out, earnings per share would gain 1 percent to 8 percent on a like-for-like basis.
The company’s results will be issued on July 26.
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