JOHANNESBURG, July 19, 2016 /CNW/ - Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) advises that earnings per share (EPS) for the six months ended 30 June 2016 (H1 2016) are expected to be 1,400% (US$0.14) higher than the US$0.00 per share reported for the six months ended 30 June 2015 (H1 2015), at US$0.14 per share. Headline earnings per share (HEPS) for H1 2016 are expected to be 1,500% (US$0.15) higher than the US$0.01 per share reported for H1 2015, at US$0.16 per share.
In addition, normalised earnings for the period are expected to be 1,200% (US$0.12) higher than the US$0.01 per share reported for H1 2015 at US$0.13 per share.
The increases in EPS, HEPS and normalised earnings are primarily driven by an increase in the US$ gold price (3% YoY) and lower net operating costs in local currencies as well as the impact of converting these costs at weaker exchange rates. In H1 2016, the A$ was 5% weaker YoY and the rand was 29% weaker YoY, against the US$.
Attributable gold equivalent production for Q2 2016 is expected to be 529koz (Q1 2016: 515koz), with all-in sustaining costs (AISC) of US$1,023/oz (Q1 2016: US$961/oz) and all-in costs (AIC) of US$1,061/oz (Q1 2016: US$986/oz).
For H1 2016, attributable gold equivalent production is expected to be 1,044koz (H1 2015: 1,036koz), with AISC of US$992/oz (H1 2015: US$1,083/oz) and AIC of US$1,024/oz (H1 2015: US$1,108/oz).
The forecast financial information on which this trading statement is based has not been reviewed, and reported on, by the Company's external auditors.
Gold Fields will release H1 2016 financial results on Thursday, 18 August 2016.
About Gold Fields
Gold Fields Limited is an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa with attributable annual gold production of approximately 2.0 million ounces. It has attributable Mineral Reserves of around 46 million ounces and Mineral Resources of around 102 million ounces. Attributable copper Mineral Reserves total 532 million pounds and Mineral Resources 5,912 million pounds. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SWX).
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
SOURCE Gold Fields Limited, South Africa
