Gold Fields expects swing back to full-year profit – Business Live
Gold Fields expects to return to profit in the year to end-December, mainly thanks to a higher gold price, lower net operating costs and a weaker rand.
In its trading update on Friday, the gold producer said headline earnings per share would rise by between 730% and 780%, compared with a headline loss of $0.04 a year ago.
The gold price was up 8% in the review period, while production was expected to be 2.146-million ounces, with all-in sustaining costs of $980 an ounce. This compares with 2.159-million ounces in 2015.
The share price was marginally weaker in mid-morning trade at R47.12, valuing the company at R37.8bn.
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