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Updated trading statement for the year ended 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")
UPDATED TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2016
Shareholders are advised that Kumba is currently finalising its
results for the year ended 31 December 2016 (“the period”),
which will be released on the Stock Exchange News Service of the
JSE Limited (“SENS”) on 14 February 2017.
In accordance with section 3.4(b) of the JSE Limited Listings
requirements, and further to the trading statement released on
SENS on 2 December 2016 in which the Company indicated that
headline earnings per share (“HEPS”) and basic earnings per
share (“EPS”) for the period would be at least 20% higher than
the previous year ended 31 December 2015 (“the comparative
period”); shareholders are advised that headline earnings for
the period are likely to be between R8,453 million and R8,890
million, with basic earnings for the period expected to be
between R8,351 million and R8,782 million. HEPS is likely to be
between R26.36 and R27.72, an increase of between 123% and 135%.
Basic EPS is expected to be between R26.04 and R27.38.
Reported headline earnings and basic earnings for the
comparative period (released on SENS on 9 February 2016) were
R3,792 million and R469 million respectively, while reported
HEPS and EPS for the comparative period were R11.82 and R1.46
respectively.
The increase in earnings is largely attributable to the increase
in export iron ore prices, as well as the impairment charge of
R5,978 million that was included in basic earnings but excluded
from headline earnings in the comparative period. More
information will be provided in the Company’s results to be
released on SENS on 14 February 2017.
The financial information, on which this trading statement is
based, has not been reviewed or reported on by the Company’s
external auditors.
Pretoria
25 January 2017
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 25/01/2017 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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