Gold Fields has reported an interim net loss of $369m as it took a hefty impairment against its unprofitable sole remaining asset in SA and incurred restructuring costs in Ghana. For the six months to end-June, Gold Fields reported that it had swung to a net loss of $369m from a profit of $57m in the same period a year before. However, using a non-International Financial Reporting Standards (IFRS) metric called normalised profit, which takes into account one-off items, Gold Fields reported a profit of $43m compared with a $75m profit the year before. Applying its dividend policy to its normalised profit numbers, Gold Fields halved its interim dividend to $0.20 a share from $0.40 the year before. Net debt increased to $1.393bn from $1.365bn a year ago, while the cash balance remained virtually unchanged at $498m. Gold Fields has shed R9.05bn in value since Tuesday morning and its market capitalisation of R30.8bn is well below the R32bn it has poured into South Deep, west of Johannesb...

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