Africa's biggest iron ore producer, Kumba Iron Ore, said on Friday it expects headline earnings for the two months to the end of December 2006 to be between 250 million rand and 275 million rand.
Basic earnings for the two months are expected to be between 350 million and 400 million rand, Kumba said in a statement.
Kumba said headline and basic earnings have been hit by about 150 million rand in once-off costs due to an empowerment transaction that saw Kumba Resources Ltd split into Kumba Iron Ore and Exxaro Resources Ltd.
Headline earnings, the main profit measure in South Africa, strip out non-trading, capital and certain extraordinary items.
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