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Gold Fields forecasts higher earnings in H1

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Gold Fields forecasts higher earnings in H1

Gold FieldsLtd. said July 19 that it expected higher earnings in the firsthalf, driven by a 3% year over year increased in the U.S. dollar gold price andlower net operating costs in Australian dollar and South African rand.

Earnings per share for the six months ended June 30 areexpected to jump to 14 U.S. cents from zero cent in the same period in 2015.Headline EPS will improve to 16 cents from 1 cent, while normalized EPS willincrease to 13 cents from 1 cent.

Gold Fields posted a net loss of US$2.2 million in the first half of2015.

Meanwhile, the company expects attributable gold equivalentproduction for the second quarter to reach 529,000 ounces at all-in sustainingcosts of US$1,023 per ounce.

For the first half, gold equivalent production is expectedto be 1.04 million ounces, the same as that of the previous year, at all-insustaining costs of US$992 per ounce.

Gold Fields will release its financial results Aug. 18.