Gold Fields Q4 Net Loss Narrows; Announces Final Dividend - Quick Facts

(RTTNews) - Gold Fields Limited (GFI) reported Thursday that its fourth-quarter net loss was $26 million, compared to net loss of $491 million a year ago. Normalised earnings increased to $17 million from $14 million last year.

Revenue declined to $1,179 per ounce from last year's $1,265 per ounce. In the quarter, the company produced 556 thousand ounces of gold, lower than 598 thousand ounces produced last year.

Further, the company announced a final dividend of 20 SA cents per share, payable on 9 March, giving a total dividend for the year ended 2014 of 40 SA cents per share.

Chief Executive Officer Nick Holland said, "The robust international portfolio continues to perform well, underpinning the 2014 financial performance. Unfortunately, South Deep remains challenging and the planned build-up for 2015 will not be achieved. However, we believe that 2014 was the low-point for the mine and expect consistent improvement through 2015 and beyond."

For fiscal 2015, the company expects attributable equivalent gold production at around 2.2 million ounces. All-in sustaining costs are forecast at $1,055/oz and total all-in cost at $1,075/oz.