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Gold Fields H1 earnings fall 25 pct on exchange rate impact

Published 17/08/2017, 03:46 pm
Updated 17/08/2017, 03:50 pm
Gold Fields H1 earnings fall 25 pct on exchange rate impact

JOHANNESBURG, Aug 17 (Reuters) - Gold Fields Ltd GFIJ.J posted a 25 percent drop in first-half normalised earnings on Thursday due to stronger exchange rates in South Africa and Australia, but maintained its full-year targets.

The gold miner said normalised earnings fell to $77 million in the six months to June from $103 million a year earlier.

Gold Fields pays costs in rand and Australian dollars and receives revenue in U.S. dollars.

The company, which also operates in Ghana and Peru, declared an interim dividend of 40 South African cents per share, representing a 20 percent decline on last year's first-half payout.

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