Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) has said 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.

Business24

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.

Gold Fields said in a statement that 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).

Gold Fields said it will release its H1 2016 financial results on Thursday, 18 August 2016.

Source: Ghana/ClassFMonline.com/91.3FM

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