Metal and mining giant Kumba Resources Limited on Friday reported revenue of R11,96-billion and a net operating profit of R3,7-billion for the 12 months ended 31 December last year.
This had resulted in an improved operating margin of 31% for the year, it said.
This excluded the non-recurring R1,2-billion pre-tax settlement paid to Kumba for the acquisition of its interest in the Hope Downs iron ore project in Australia.
”The year was marked by continued excellent operational performance, strong commodity prices and the realisation of benefits from the ongoing business improvement programme,” said chief executive Con Fauconnier.
The improvement in net operating profit including the Hope Downs settlement resulted in attributable earnings rising by 400% to R3,19-billion for the financial year.
Kumba said the total dividend declared for the year came to to 540 cents a share. – Sapa