Gold Fields, a globally diversified gold producer, expects headline earnings per share for the six months ended 30 June 2023 to range between $0.49 and $0.53 per share, a 9 to 16% decrease from the $0.58 per share reported during the same period in 2022.
The decrease in headline earnings is due to lower gold volumes sold and higher operating costs incurred in the first half of 2023, which was supported by mining inflation and higher amortisation and depreciation due to an increase in ounces mined, partially offsetting a rise in the gold price.
The gold miner expects basic earnings per share for the first half of 2023 to range between $0.49 and $0.53 per share, which is 7 to 14% lower than the $0.57 per share recorded in the corresponding period last year.
Normalised earnings per share are expected to range between $0.49 and $0.53 per share in the first half of 2023, which is 5 to 13% lower than the normalised earnings of $0.56 per share recorded in the first half of 2022.
Meanwhile, Gold Fields reported that the estimated gold equivalent production for the first half of 2023 is 1,15 million ounces, a 4% decrease from the previous year's 1,2 million ounces.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
