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Kumba Iron Ore flags up to 22% YOY increase in H1 EPS

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Kumba Iron Ore flags up to 22% YOY increase in H1 EPS

Kumba Iron OreLtd. expects its basic earnings to range between 2.84 billion SouthAfrican rand and 3.06 billion rand for the six months ended June 30, comparedto 2.51 billion rand in the same period of 2015, according to a July 14statement.

EPS is expected to range between 8.85 rand and 9.55 rand,representing an increase of between 13% and 22% from the year-ago period.

The AngloAmerican Plc unit said the expected increase in earnings is largelyattributable to the derecognition of a deferred tax asset of 617 million randin the comparative period.

The company will release its interim financial results onJuly 26.