The financial statements are presented on a condensed consolidated basis

INCOME STATEMENT

		United States Dollars Six months ended
Figures in millions unless otherwise stated		June 2019	June 2018

Revenue		1,378.5	1,350.7
Cost of sales		(986.4)	(1,034.8)
Cost of sales before amortisation and depreciation		(694.5)	(687.9)
– Cost of sales before gold inventory change and amortisation and depreciation		(700.1)	(703.0)
– Gold inventory change		5.6	15.1
– Amortisation and depreciation		(291.9)	(346.9)
Interest expense, net		(30.9)	(33.2)
Share of results of equity accounted investees, net of taxation		(0.5)	(6.0)
(Loss)/gain on foreign exchange		(0.1)	2.8
(Loss)/gain on financial instruments		(109.4)	23.9
Share-based payments		(11.2)	(20.3)
Long-term incentive plan		(5.8)	(1.3)
Other costs, net		(35.9)	(29.6)
Exploration expenses		(43.5)	(56.1)
Profit before royalties, taxation and non-recurring items		154.8	196.1
Non-recurring items		19.0	(661.2)
Profit/(loss) before royalties and taxation		173.8	(465.1)
Royalties		(33.6)	(33.3)
Profit/(loss) before taxation		140.2	(498.4)
Mining and income taxation		(61.5)	129.2
– Normal taxation		(82.9)	(73.9)
– Deferred taxation		21.4	203.1
Profit/(loss) for the period		78.7	(369.2)
Attributable to:
– Owners of the parent		70.5	(366.6)
– Non-controlling interest		8.2	(2.6)
Non-recurring items:
Profit on disposal of Maverix		14.6	–
Profit/(loss) on disposal of assets		0.1	(53.1)
Restructuring costs		(0.3)	(100.3)
Reversal of FSE impairment		9.6	–
Loss on buy-back of bond		(5.0)	–
Silicosis provision adjusted		–	3.0
Impairment of South Deep		–	(481.5)
Impairment of investments and assets		–	(20.0)
Loss on disposal of inventory		–	(8.9)
Other		–	(0.4)
Total non-recurring items		19.0	(661.2)
Taxation on items above		0.1	166.6
Non-recurring items after tax		19.1	(494.6)
Profit/(loss) attributable to owners of the parent		70.5	(366.6)
Profit/(loss) per share (cents) attributable to owners of the parent		9	(45)
Diluted profit/(loss) per share (cents) attributable to owners of the parent		8	(44)
Headline earnings attributable to owners of the parent		39.9	66.7
Headline earnings per share (cents) attributable to owners of the parent		5	8
Diluted headline earnings per share (cents) attributable to owners of the parent		5	8
Profit excluding gains and losses on foreign exchange, financial instruments and non-recurring items after taxation and non-controlling interest		126.2	42.8
Profit per share excluding gains and losses on foreign exchange, financial instruments and non-recurring items after taxation and non-controlling interest (cents)		15	5
US dollar/South African rand conversion rate		14.22	12.25
US dollar/Australian dollar conversion rate		0.71	0.77
Gold equivalent sold – managed	eq oz (000)	1,062	1,034
Gold equivalent price received	US$/eq oz	1,298	1,306

Figures may not add as they are rounded independently.

The consolidated financial statements for the six months ended 30 June 2019 have been prepared by the corporate accounting staff of Gold Fields Limited headed by Tzvet Ilarionova, the Group Financial Controller. This process was supervised by Paul Schmidt, the Group Chief Financial Officer.