Headline earnings per share (HEPS) for FY 2016 are expected to be between 730% and 780% (US$0.29 to US$0.31) higher than the headline loss per share of US$0.04 reported for FY 2015, at a range between US$0.25 and US$0.27.
In addition, normalised earnings per share for the period are expected to be between 280% and 320% (US$0.17 to US$0.19) higher than the normalised earnings per share of US$0.06 reported for FY 2015, at a range between US$0.23 and US$0.25.
The increases in EPS, HEPS and normalised earnings are primarily driven by an increase in the US$ gold price (8% YoY) and lower net operating costs in local currencies as well as the impact of converting these costs at weaker exchange rates. In addition, EPS is impacted by lower non-recurring items. In FY 2016, the A$ was 1% weaker YoY and the rand was 13% weaker YoY, against the US$.
For FY 2016, attributable gold equivalent production is expected to be 2,146koz (FY 2015: 2,159koz), with all-in sustaining costs (AISC) of US$980/oz (FY 2015: US$1,007/oz) and all-in costs (AIC) of US$1,006/oz (FY 2015: US$1,026/oz). This compares to revised guidance of 2,100koz - 2,150koz at AISC of US$1,000/oz - US$1,010/oz and AIC of US$1,035/oz - US$1,045/oz.
Attributable gold equivalent production for Q4 2016 is expected to be 566koz (Q3 2016: 537koz), with AISC of US$911/oz (Q3 2016: US$1,026/oz) and AIC of US$941/oz (Q3 2016: US$1,038/oz)
The financial information on which this trading statement is based has not been reviewed, and reported on, by the Company's external auditors.
Gold Fields will release FY 2016 financial results on Thursday, 16 February 2017.
About Gold Fields
Gold Fields Limited is an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa with attributable annual gold production of approximately 2.0 million ounces. It has attributable Mineral Reserves of around 46 million ounces and Mineral Resources of around 102 million ounces. Attributable copper Mineral Reserves total 532 million pounds and Mineral Resources 5,912 million pounds. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SWX).
Sponsor: J.P. Morgan Equities South Africa (Pty) Ltd
SOURCE Gold Fields Limited