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KUMBA IRON ORE LIMITED - Trading statement for the year ending 31 December 2016

Release Date: 02/12/2016 09:57
Code(s): KIO     PDF:  
Wrap Text
Trading statement for the year ending 31 December 2016

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")

TRADING STATEMENT FOR THE YEAR ENDING 31 DECEMBER 2016

Kumba’s results for the year ending 31 December 2016 ("the period")
will be released on the Stock Exchange News Service of the JSE Limited
(“SENS”) on 14 February 2017.

In terms of the Listings Requirements of the JSE Limited (“Listings
Requirements”), companies are required to publish a trading statement
as soon as they become reasonably certain that the financial results
for the period to be reported on next will differ by at least 20% from
those of the previous corresponding reporting period.

Headline earnings and basic earnings reported for the year ended
31 December 2015 (as released on SENS on 9 February 2016) ("the
comparative period") were R3,792 million and R469 million respectively,
while headline earnings per share (“HEPS”) and earnings per share
(“EPS”) reported for the comparative period were R11.82 and R1.46
respectively.

Kumba’s headline earnings and basic earnings for the period are likely
to be at least 20% higher than the comparative period translating to an
increase of at least R758 million and R94 million, respectively. In
this regard, HEPS and EPS are also likely to be at least 20% higher
than the comparative period translating to an increase of R2.36 and
R0.30, respectively.

The expected increase in earnings is largely attributable to the
increase in export iron ore prices during the year and the weaker
average ZAR/US$ exchange rate.

Shareholders are advised that a further trading statement will be
issued in due course to provide forecast ranges for HEPS and EPS as
required by the Listings Requirements.

The forecast financial information on which this trading statement is
based has not been reviewed and reported on by the Company’s external
auditors.

Pretoria
2 December 2016

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 02/12/2016 09:57:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
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