RNS Number:1185E
Gold Fields of South Africa Ld
20 January 2000


GOLD FIELDS OF SOUTH AFRICA LIMITED
(Registration No. 05/01181/06)
(Incorporated in the Republic of South Africa)

Interim Report for the six months ended 31 December 1999

CONSOLIDATED INCOME STATEMENT
                                      *Six months   *Six months          Year
                                            ended         ended         ended
                                      31 December   31 December       30 June
                                             1999          1998          1999
                                               Rm            Rm            Rm
Revenue
Income from investments                        25            32            52
Interest received                              70            45           127
Surplus on realisation of 
investments                                     -             -             -
Income from fees and
other sources                                   2            11            21
                                               97            88           200
Expenditure                                    12            55            66
Administration                                 12            45            55
Interest paid                                   -            10            10
Exploration and project
investigation                                   -             -             1

Profit before tax and
exceptional gains                              85            33           134
Exceptional gains                              11           855           813

Profit before tax                              96           888           947
Tax                                            11            14            32

Profit after tax                               85           874           915
Minority shareholders' interest                 6           107           108

Profit attributable to
ordinary shares                                79           767           807

Earnings per share - cents                     69           672           708
Headline earnings
per share - cents                              60            25            58
Dividends per share - cents                     -         2 136         2 136
Times covered                                   -             -             -
*Unaudited

ABRIDGED CONSOLIDATED CASH FLOW STATEMENT

                                      *Six months   *Six months          Year
                                            ended         ended         ended
                                      31 December   31 December       30 June
                                             1999          1998          1999
                                               Rm            Rm            Rm
Net cash inflow/(outflow)
from operating activities                      40       (2 678)       (2 745)
Net cash inflow from
investment activities                          12        5 597         5 606
Net cash inflow/(outflow) from 
financing activities                           72       (2 230)       (2 223)

Increase in cash on hand                      124          689           638
*Unaudited

CONSOLIDATED BALANCE SHEET
                                             *At           *At           At
                                      31 December   31 December     30 June
                                             1999          1998        1999
                                               Rm            Rm          Rm 
Fixed assets                                   15            33          15
Investments                                   446           370         446
Mineral properties                              2             9           3
Loans advanced                                  -           103          72
Net current assets                            950         1 154         806

Current assets                              1 067         1 235         950

Cash                                        1 052           979         928
Other                                          15           256          22

Less current liabilities                      117            81         144

                                            1 413         1 669       1 342

Share capital                                 492           492         492
Reserves                                      800         1 036         720

                                            1 292         1 528       1 212

Deferred tax                                    -             1           -
Minority shareholders' interest               121           140         130

                                            1 413         1 669       1 342

ADDITIONAL INFORMATION
Investments
Listed - Book value                           446           444         446

       - Market value                       1 383           657         890
       - Excess over book value               937           213         444

Provision for diminution
in value                                        -            74           -

                                              446           370         446

Number of ordinary shares
in issue                              114 075 385   114 075 385  114 075 385
Net asset value per share - cents           1 938         1 269        1 441

*Unaudited

NOTES
1. Accounting policies
The financial statements have been prepared on the historical cost basis in
compliance with South African Accounting Standards and are consistent with
those adopted at 30 June 1999.

2.  Headline Earnings
Headline earnings are calculated after the deduction of exceptional gains and
its respective portion of tax and minorities' interest.

The exceptional item of R11 million is the profile realised on the disposal of
mineral properties and mineral rights.

3.  Net Asset Value (NAV)
The NAV of the Group, at market value, as at 31 December 1999 is:

                       Number of 
                       shares         
Investment             (Beneficial     Share price       Total
                        holdings)              (R)          Rm

GFL                     6 689 284            29,75         199
Northam               148 394 633             7,70       1 143
Sasol                     360 676            51,90          19
Cash                                                       933
Net current liabilities                                    (83)
                                                         2 211

4. Comparative figures
The comparative figures for December 1998 have been restated to reflect the
sale of the Group's holdings in Zinc Corporation of South Africa Limited
effective 1 July 1998.  At the time of publication of these figures the sale
was still subject to certain suspensive conditions.

5. Outlook
Other than cash the Group's major investments are its holdings in Northam
Platinum Limited and Gold Fields Limited.  Consideration is being given to
returning the full value reflected in these investments to shareholders and
shareholders can expect further announcements in this regard in the near
future.  Thereafter the process of transferring all the mineral rights held
within the company and its subsidiaries can be completed and consideration
will be given to the declaration of a substantial dividend in anticipation of
voluntary liquidation.

Kenilworth House                      On behalf of the board
Rutherford Estate
1 Scott Street                        J P Rupert
Waverley                              (Chairman)
2090 
                                      A J Wright  
                                      (Deputy Chairman)
18 January 2000 

END
IR ILFVLLAIIFII
G4s (LSE:GFSA)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more G4s Charts.
G4s (LSE:GFSA)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more G4s Charts.