Quarterly reports
Quarter ended 31 December 2010
JOHANNESBURG. 18 February 2011, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings excluding gains and losses on foreign exchange, non-recurring items and share of gain or loss of associates after royalties and taxation for the December 2010 quarter of R1,475 million compared with earnings of R1,016 million and R1,022 million in the September 2010 and December 2009 quarters respectively. In US dollar terms net earnings excluding gains and losses on foreign exchange, non-recurring items and share of gain or loss of associates after royalties and taxation for the December 2010 quarter were US$211 million, compared with earnings of US$138 million and US$135 million for the September 2010 and December 2009 quarters respectively. A net loss of R777 million (US$106 million) was incurred due to the cost of a number of empowerment transactions completed in the quarter.
- Net earnings per share excluding gains and losses on foreign exchange, non-recurring items and share of gain or loss of associates after royalties and taxation increased by 43 per cent from 144 cents per share to 206 cents per share;
- Group attributable gold production similar to last quarter at 898,000 ounces;
- Lowest coupon dollar bond ever issued by South African corporate;
- Total cash cost down from R164,898 per kilogram (US$697 per ounce) to R161,894 per kilogram (US$728 per ounce);
- NCE margin up 2 per cent to 20 per cent;
- 2014 equity empowerment requirements completed and fully accounted for; and
- Growth pipeline gathering momentum.
As a result of the change in year-end from June to December, a final dividend for the six months ended 31 December 2010 of 70 SA cents per share is payable on 14 March 2011.
Quarter ended 30 September 2010
Operations tracking guidance
JOHANNESBURG. 4 November 2010, Gold Fields Limited (NYSE & JSE: GFI) today announced net earnings excluding gains and losses on foreign exchange, exceptional items and share of gain or loss of associates after taxation for the September 2010 quarter of R1,016 million compared with earnings of R945 million and R625 million in the June 2010 and the September 2009 quarters respectively. In US dollar terms net earnings excluding gains and losses on foreign exchange, exceptional items and share of gain or loss of associates after taxation for the September 2010 quarter were US$138 million, compared with earnings of US$125 million and US$80 million for the June 2010 and September 2009 quarters respectively.
September 2010 quarter salient features:
- US$1 billion bond completed post quarter end;
- Group attributable gold production up to 908,000 ounces;
- Total cash cost down from R166,215 per kilogram (US$688 per ounce) to R164,898 per kilogram (US$697 per ounce);
- NCE margin maintained at 18 per cent;
- South Deep new order mining right executed;
- Three BEE transactions approved by shareholders;
- Option agreement for 60 per cent interest in the undeveloped gold-copper Far Southeast deposit in the Philippines signed;
- Business process re-engineering across the Group commenced.
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