February 13, 2018 / 6:32 AM / 13 days ago

South Africa's Kumba FY profit rises 12 pct

JOHANNESBURG (Reuters) - South Africa’s Kumba Iron Ore Ltd reported a 12 percent rise in annual profit on Tuesday, underpinned by higher costs for the steel-making ingredient.

The company, a unit of Anglo American, said headline earnings came in at 9.7 billion rand ($813.36 million), or 30.47 rand per share, in the year ended December 2017, compared with 8.7 billion rand a year ago.

Headline EPS is the primary profit measure in South Africa, and strips out certain one-off items.

($1 = 11.9259 rand)

Reporting by Tiisetso Motsoeneng; Editing by Sherry Jacob-Phillips

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