The financial statements are presented on a condensed consolidated basis

Income statement

Figures are in millions unless otherwise stated

  UNITED STATES DOLLARS
  Six months ended
  June 
2016 
    June 
2015 
 
Revenue 1,304.9      1,270.2   
Operating costs, net (666.3)     (748.2)  
  – Operating costs (691.4)     (714.1)  
  – Gold inventory change 25.1      (34.1)  
Operating profit 638.6      522.0   
Amortisation and depreciation (299.6)     (282.5)  
Net operating profit 339.0      239.5   
Net interest expense (30.6)     (34.3)  
Share of equity accounted earnings after taxation (1.6)     (4.0)  
(Loss)/gain on foreign exchange (0.1)     0.1   
Gain/(loss) on financial instruments 5.5      (0.8)  
Share-based payments (5.6)     (6.1)  
Long-term employee benefits (20.1)     (3.4)  
Other (24.0)     (18.7)  
Exploration and project costs (41.0)     (32.7)  
Profit before royalties, taxation and non-recurring items 221.5      139.6   
Non-recurring items 6.3      (11.1)  
Profit before royalties and taxation 227.8      128.5   
Royalties (38.5)     (39.5)  
Profit before taxation 189.3      89.0   
Mining and income taxation (68.1)     (86.8)  
  – Normal taxation (82.8)     (63.7)  
  – Deferred taxation 14.7      (23.1)  
Net profit 121.2      2.2   
Attributable to:          
  – Owners of the parent 115.3      (2.2)  
  – Non-controlling interest 5.9      4.4   
Non-recurring items:          
Profit on sale of investments 1.9      –   
(Loss)/profit on sale of assets (0.3)     1.8   
Restructuring costs (10.5)     (4.5)  
Impairment of investments and assets (0.2)     (8.4)  
Other 15.4      –   
Total non-recurring items 6.3      (11.1)  
Taxation on items above 0.8      0.9   
Net non-recurring items after tax 7.1      (10.2)  
Net earnings/(loss) 115.3      (2.2)  
Net earnings per share (cents) 14      –   
Diluted earnings per share (cents) 14      –   
Headline earnings 123.9      5.1   
Headline earnings per share (cents) 16       
Diluted headline earnings per share (cents) 15       
Net earnings excluding gains and losses on foreign exchange, financial instruments and non–recurring items after royalties and taxation 103.3      8.2   
Net earnings per share excluding gains and losses on foreign exchange, financial instruments and non–recurring items after royalties and taxation (cents) 13       
US dollar/South African rand conversion rate 15.39      11.89   
US dollar/Australian dollar conversion rate 0.74      0.78   
Gold equivalent sold – managed 1,072      1,071   
Gold equivalent price received 1,218      1,186   
Figures may not add as they are rounded independently.

The consolidated financial statements for the six months ended 30 June 2016 have been prepared by the corporate accounting staff of Gold Fields Limited headed by Mrs Tzvet Ilarionova, the Group's Financial Controller. This process was supervised by Mr Paul Schmidt, the Group's Chief Financial Officer.