JOHANNESBURG (Reuters) - South Africa's Kumba Iron Ore expects annual earnings to rise by as much as 44%, boosted by strong iron ore prices and a weaker rand-to-dollar exchange rate, it said on Thursday.
Headline earnings per share (HEPS) for 2020 are expected to come in at between 68.07 rand and 73.06 rand, up 34-44% from the previous year.
HEPS is the main profit measure used in South Africa.
The miner said output in 2020 fell 13% to 37 million tonnes while sales declined 5% to 39.7 million tonnes.
(Reporting by Tanisha Heiberg; Editing by David Goodman)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 475.5 ZAR | +4.51% | -0.63% | 8.11B | ||
| 462 PTS | +1.81% | +2.72% | - | ||
| 157.6 PTS | +3.21% | +3.49% | - | ||
| 1,962 PTS | +1.81% | +2.51% | - | ||
