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10

Gold Fields' Profit Declined

Gold Fields' earnings for the final quarter of fiscal 2007, the three months to the end of June, fell...

The world's fourth-largest gold producer, Gold Fields Ltd., on Wednesday posted an 18 percent decline in its fourth-quarter net profit as costs increased and production remained little changed.

Gold Fields' earnings for the final quarter of fiscal 2007, the three months to the end of June, fell to US$74 million compared with a restated US$101 million for same period in 2006.

For the full year, earnings for the Johannesburg-based company increased 53 percent from US$241 million to US$328 million, as a slight decline in attributable gold output and higher operating costs were offset by a stronger metal price.