South Africa's Kumba says full-year earnings up

Tue, 11 Feb - 4:23pm

JOHANNESBURG, Feb 11 (Reuters) - South Africa's Kumba Iron Ore KIOJ.J reported a rise in full-years earnings on Tuesday, due to higher export prices and a weaker rand.

Kumba, Africa's top iron ore producer, said diluted headline earnings per shares for the year to end-December rose to 48.02 rand from 38.76 rand a year earlier.

Headline EPS, the main measure of profit in South Africa, excludes certain one-time items. Kumba is a unit of Anglo American and its most profitable division.

Kumba said total production was 42.4 million tonnes for the year, down 2 percent from the prior year due to output shortfalls at its flag-ship Sishen mine.

The company declared a final dividend of 19.94 rand per share, bringing the total for the year to 40.04 rand per share.

(Reporting by Olivia Kumwenda-Mtambo; Editing by Ed Cropley)

((Olivia.Kumwenda@thomsonreuters.com)(+27 11 775 3159)(Reuters Messaging: olivia.kumwenda.thomsonreuters.com@reuters.net))

Keywords: KUMBA/

URN: 
urn:newsml:reuters.com:20140211:nL5N0LF1Z6:3
Topics: 
ZA GB CMPNY INDS PREC MINE METL MIS RTRS MIN GDM RESF COMA BMAT FERR MUL EUROPE STEE MEMI RES MET EUROP IRN COM EMRG LEN BACT DIV AFR WEU AFE MTAL

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