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Gold Fields sees earnings surge - IOL

Friday, 3 February 2017

Johannesburg – Dual-listed Gold Fields says expects a surge in earnings per share for the year when it reports results later this month.

In a statement issued on Friday, the company – which has a miniscule South African portfolio when compared to a decade ago – says earnings per share for the year to December are expected to be between 160 and 170 percent higher than a year ago.

This translates to between 18USc and 20USc.

A year ago, it reported an earnings per share loss of 31USc a share.

The company adds headline earnings per share – a key measure of profitability – should come in at between 730 percent and 780 percent higher.

Read also: Gold Fields aims to keep South Deep profitable

This translates to between 25USc and 27USc compared with a loss of 4USc, it says.

Gold Fields attributed the gains to an increase in gold prices on a dollar basis as well as lower operating costs and foreign exchange benefits.

Its results will be released on February 16.

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