South African miner Kumba Iron Ore said on Thursday it expected half-year earnings to rise by at least 150%, boosted by higher export iron ore prices and a stronger rand-to-dollar exchange rate.
Headline earnings per share (HEPS) - the main profit measure used in South Africa - for the six months ending June 30 is expected to be at least 65.48 rand per share, an increase of 39.29 rand or 150%, compared to the 26.19 rand per share recorded during the same period a year earlier.
The company did not provide a range for the period’s expected profit increase in its trading statement.
Kumba is expected to release its half-year results on July, 27.
