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Gold Fields amends H1'19 headline earnings forecast

Gold Fields Ltd. advised shareholders that it expects to announce headline EPS for the six months ended June 30 of 5 U.S. cents, instead of between 6.8 cents and 7.2 cents per share guided in a trading statement a week earlier.

Gold Fields said Aug. 8 that the forecast change relates to a restatement of the gain on the disposal of investments. Basic earnings and normalized earnings are not affected by the adjustment and are expected to be within the original guidelines.

On Aug 2, Gold Fields said it expects a swing to profit in its first-half basic EPS of between 8 cents and 10 cents, from the year-ago loss of 45 cents.

Normalized earnings for the half are expected at between 13 cents and 17 cents per share, a surge of between 160% and 240% over the year-ago half.

Gold Fields will release its interim results Aug. 15.