By GIFT NDOLWANE
JOHANNESBURG – GOLD Fields Limited advised shareholders earnings per share (EPS) for the twelve months ended December 31 2016 (FY 2016) are expected to be between 160 percent and 170 percent(US$0,49 to US$0,52) higher than the loss per share of US$0,31 reported the previous year.
Headline earnings per share (HEPS) for FY 2016 are expected to be between 730 percent and 780 percent (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 percent and 320 percent (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 percent year-on-year(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 Australian $ was 1 percent weaker YoY and the rand was 13 percent weaker YoY, against the US$.
Gold Fields will release FY 2016 financial results on February 16.
– Guardian/strong>