Buoyant Gold Fields regains profits
The company has reported a net profit of US$115 million.
This represents a massive change of fortunes after the firm accrued a loss of $2 million in the corresponding period last year.
Gold Fields has declared a dividend of $0,50 per share for the period, up from $0,04 the same period last year.
In a statement accompanying the results for the six months ended June 30, the company attributed its turnaround to a 3 percent improvement in the price of gold, its main product.
“It is pleasing to report our H1 2016 results into a much more buoyant gold market compared with the start of the year,” said Nick Holland, Gold Fields Chief Executive Officer.
Buoyed by its performance, the comp any has projected its full-year production forecast by 50 000 ounces (oz) to between 2,1 million and 215 million oz at an all-in cost of over $1/oz.
– CAJ News
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