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Updated trading statement for the six months ended 30 June 2015
Kumba Iron Ore Limited
A member of the Anglo American plc group
(Incorporated in the Republic of South Africa)
(Registration number 2005/015852/06)
JSE Share code: KIO
ISIN: ZAE000085346
("Kumba" or "the Company")
UPDATED TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2015
Shareholders are advised that Kumba is currently finalising its
results for the half year ended 30 June 2015 ("the period"),
which will be released on SENS on 21 July 2015.
In accordance with section 3.4 (b) of the JSE Listings
requirements and further to the trading statement released on 8
May 2015 in which the Company indicated that headline earnings
per share ("HEPS") and basic earnings per share ("EPS") for the
period would be more than 20% lower than the previous six months
ended 30 June 2014 (“the comparative period”); shareholders are
advised that headline earnings for the period are likely to be
between R2,410 million and R2,585 million, with basic earnings
expected to be between R2,400 million and R2,575 million. HEPS
is likely to be between R7.50 and R8.05, a decrease of between
60% and 63%, with EPS expected to be between R7.47 and R8.02, a
decrease of between 60% and 63%.
Reported headline earnings and basic earnings for the
comparative period (released on SENS on 22 July 2014) were R6,505
million and R6,511 million respectively, while reported HEPS and
EPS for the comparative period were R20.28 and R20.30
respectively.
The significant decrease in export iron ore prices is largely
responsible for the decrease in earnings, and has also resulted
in the derecognition of a deferred tax asset of R617 million,
included in both HEPS and EPS, in the current period. Normalised
earnings per share, excluding this item, are likely to be between
R9.35 and R10.00, a decrease of between 51% and 54% on the
normalised earnings per share of the comparative period of
R20.28.
The financial results, on which this trading statement is based,
have not been reviewed or reported on by the group’s external
auditors.
Pretoria
15 July 2015
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 15/07/2015 01:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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