Gold Fields, the world's fourth-largest gold producer, on Thursday reported the halving of its headline earnings per share to 63 cents for the three months to end September from 1.40 rand a year ago.
On a quarterly basis, headline earnings per share fell 19.2 percent from 78 cents in the three months to end June.
The group's revenue grew fractionally from R5.113-billion in the June quarter to R5.119-billion in the September quarter, while net profit was down 19 percent at R482.8-million.
Gold Fields said attributable gold production was maintained at over one million ounces for the quarter although cash costs were up seven percent quarter-on-quarter to $435 an ounce, or R99 227 per kilogram due to higher labour costs at the South African operations.
Ian Cockerill, CEO of Gold Fields, said the increase in costs was "unacceptably high".
Cockerill said the rising costs were also influenced by the decline in production from both Tarkwa in Ghana and St Ives in Australia, but he expected an improved performance from these two mines over the next few quarters.
Production at the South African operations increased from 685 000 ounces to 689 000 ounces while attributable production at the international operations decreased from 330 000 ounces to 312 000 ounces.
Capital expenditure decreased slightly from R2.19-billion in the June quarter to R1.96-billion in the September quarter.
At the South African operations, capital expenditure reduced from R878-million to R740-million.