Gold Fields (US:GFI) Zhi Tong Cai Jing·2025-08-22 07:08Core Viewpoint - South African gold producer Gold Fields (GFI.US) reported significant profit growth in the first half of the year, driven by record gold prices and increased production, while also announcing an increase in interim dividends [1][2] Financial Performance - The company achieved a net profit of $1.02 billion for the six months ending June 30, a substantial increase from $389 million in the same period last year [1] - Core profit rose from $320.7 million to $1.027 billion year-on-year [1] - Basic earnings per share increased from $0.43 to $1.15, falling within the forecast range of $1.09 to $1.21 [1] - The interim dividend was set at 7 Rand ($0.3948) per share, significantly up from 3 Rand in the first half of 2024 [1] Production Metrics - Gold equivalent production in Q2 reached 585,000 ounces, up from 551,000 ounces in the previous quarter, aligning with the production guidance [1] - Total production for the first half of the year grew by 24%, reaching 1.136 million ounces [1] - All-in sustaining costs increased from $1,861 per ounce in Q1 to $2,054 per ounce, consistent with expectations [1] Market Conditions - The increase in production was supported by operational improvements at mines in Chile, South Africa, Peru, and Australia, which had previously faced production cuts due to adverse weather and geological conditions [2] - Gold prices have seen a strong upward trend, rising approximately 27% this year following a significant increase in 2024, driven by heightened demand for safe-haven assets amid trade tensions and geopolitical risks [2] - The average gold selling price for the company rose by 40% year-on-year to $3,089 per ounce, marking a historical high [2] Future Outlook - The company maintains its full-year gold equivalent production guidance of 2.25 to 2.45 million ounces [2] - It confirmed its cost forecast, projecting all-in sustaining costs to remain in the range of $1,500 to $1,650 per ounce for the year [2]