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