| Tue 20 Jan 2009, 14:00 | | KIO - Kumba - Trading Statement For The Twelve Months Ended 31 December 2008 |
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KIO
KIO
KIO - Kumba - Trading Statement For The Twelve Months Ended 31 December 2008
Kumba Iron Ore Limited
A member of the Anglo American plc group
(Incorporated in the Republic of South Africa)
Registration number: 2005/015852/06
Share code: KIO & ISIN: ZAE000085346
("Kumba" or "the Company")
TRADING STATEMENT FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2008
Shareholders are advised that Kumba will report its financial results for the
twelve months ended 31 December 2008 ("the period") on 16 February 2009.
Headline earnings and basic earnings for the period, after accounting for the
minority interest in Sishen Iron Ore Company (Proprietary) Limited ("SIOC"), are
expected to be between R6,800 million and R7,500 million, with headline earnings
per share ("HEPS") and earnings per share ("EPS") being between 2,150 cents and
2,370 cents.
The restated financial results for the twelve months ended 31 December 2007,
issued on 23 July 2008, contained restated financial information for the twelve
months ended 31 December 2007 ("the comparative period"). After accounting for
the minority interest in SIOC, headline earnings and basic earnings reported for
the comparative period were R3,143 million and R3,181 million respectively while
HEPS and EPS reported for the comparative period were 1,000 cents and 1,011
cents respectively.
The trading results of Kumba for the year ended 31 December 2008 have been
buoyed by strong iron prices and the softening of the exchange rate of the Rand
to the US Dollar. However, the performance for the year was adversely affected
in late 2008 by the unprecedented volatility in the global economy. Production
volumes in the fourth quarter were marginally reduced as Sishen Mine increased
the quality of its production in order to secure export volumes. In addition
certain export sales volumes were lower than planned due to lower demand and
limited volumes of lower quality production were sold at below contractual
prices.
This trading statement is issued in compliance with the Listings Requirements of
the JSE Limited. The financial information on which this trading statement is
based has not been reviewed and reported on by the Company`s external auditors.
20 January 2009
Pretoria
Sponsor to Kumba
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 20/01/2009 14:00:01 Produced by the JSE SENS Department.
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