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Kumba Resources Limited - Trading Statement
Kumba Resources Limited
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: KMB
ISIN Number: ZAE000034310
(`Kumba`)
16 July 2004
TRADING STATEMENT
This trading statement is issued in accordance with the revised JSE Securities
Exchange South Africa Listings Requirements, which became effective on 1
September 2003.The results for Kumba Resources Limited (Kumba) for the 12 months
ending 30 June 2004 will be released on 4 August 2004. It should be noted that
the Group has changed its year end from 30 June to 31 December, in line with
that of its major shareholder, Anglo American plc. To this end the Group will
report reviewed results for the 12-month period, which ended 30 June 2004, and
audited results for the 18-month period ending 31 December 2004.
Notwithstanding the strong operational performance by the Group and the higher
than expected iron ore price settlements, effective 1 April 2004 which applied
for the last three months of the period under review, the following factors have
had a negative effect on Group profits when compared to the corresponding period
in the previous year:
- the continued appreciation of the Rand against the US dollar,
- an increase in leave pay accrual to cost of employment,
- a higher effective tax rate, and
- certain non-recurring charges relating to Ticor Chemicals Company and
Base Metals.
As a result, the Group expects both attributable and headline earnings per share
for the year ending 30 June 2004 to be materially below that of the year ended
30 June 2003. The forecasts have not been reviewed or reported on by the
Group`s auditors.
ends
Note
Kumba Resources Limited, one of the largest South African-based mining companies
listed on the JSE Securities Exchange, is a focused metals and mining company
with a diverse commodity portfolio consisting of iron ore, heavy minerals, coal,
base metals and industrial minerals. www.kumbaresources.com
Enquiries:
Trevor Arran
General Manager: Investor Relations
Tel: +27 12 307 3292
Mobile: +27 83 609 1444
Sponsor
JP Morgan
Date: 16/07/2004 05:15:03 PM Produced by the JSE SENS Department
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