Gemfields Grou. Share News (GEM)

Gemfields annual profit tumbles after scrapping auction, write-down

(Alliance News) - Gemfields Group Ltd reported on Monday it had slashed its dividend after profit dived due to a write-down on its platinum group metals investment and the withdrawal of emerald auction.

Gemfields set to swing to loss in 2023

(Sharecast News) - Coloured gemstone specialist Gemfields said in a trading update on Friday that its two primary operating assets, Kagem and MRM, contributed revenues of $89.9m and $151.4m respectively in 2023, a slight decrease from the prior year.

UK earnings, trading statements calendar - next 7 days

Gemfields expects to swing to annual loss on write-down, lower output

(Alliance News) - Gemfields Group Ltd warned on Friday it expects to swing to an annual loss after a platinum group metals write-down and the withdrawal of emerald auction.

IN BRIEF: Gemfields auction revenue slumps 23% in 2023 after record

Gemfields Group Ltd - London-headquartered gemstones producer - Posts a 23% drop in auction revenue to USD242 million in 2023 from USD316 million in 2022, an all-time record high. In an operational update, the company says the 2023 top-line growth was the second highest on record, despite withdrawn of its scheduled emerald auction for November. It scrapped the emerald auction for November due to lower quality and quantity of emerald production.

IN BRIEF: Gemfields shares rise after "decidedly healthy" ruby auction

Gemfields Group Ltd - gemstones producer in Mozambique and Zambia and owner of luxury brand Faberge - Generates revenue of USD69.5 million from its ruby auction, down 14% from USD80.4 million in June. The latest ruby sale was held during November 20 to December 5. Compared to 2022, ruby revenue was up 4.0% from USD66.8 million at an auction that took place on November 21 to December 8. The auction lots this month were made available in Bangkok for private, in-person viewings by customers.

Directors dealings: Assore International ups stake in Gemfields further

(Sharecast News) - Gemfields announced that Assore International Holdings had further increased its stake in the emeralds and rubies miner.

IN BRIEF: Gemfields completes USD10 million share buyback programme

Gemfields Group Ltd - gemstones producer in Mozambique and Zambia and owner of luxury brand Faberge - Completes USD10 million share buyback programme on Friday, having purchased 58.4 million shares in total at an average price of ZAR3.17 per share. This represents 4.8% of total shares prior to the start of the buyback and is worth ZAR185.4 million in total, about USD9.7 million. Gemfields now holds 55.7 million shares in treasury, and all of these will be cancelled.

CORRECT (Oct 20): Gemfields buys back shares for ZAR176 million

(Correcting that buy back amount is total in programme to date.)

IN BRIEF: Gemfields buys back own shares for ZAR176 million

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Buys back 55.6 million shares at an average ZAR3.17 each, in transactions worth ZAR176.4 million on Wednesday. Says this repurchase represents 4.6% of the issued share capital of 1.21 billion as at November 30, 2022. Gemfields has 52.8 million shares held in treasury.

Gemfields lifts interim dividend but warns of lower full-year results

(Alliance News) - Gemfields Group Ltd on Friday reported profit for the first half of 2023 more than halved as a result mainly of lower sales.

CORRECT: Gemfields nets USD25 million revenue from emerald auction

(Correcting that the first auction recorded USD21.2 million in March, not May)

IN BRIEF: Gemfields nets USD25 million revenue from emerald auction

Gemfields Group Ltd - London-headquartered gemstones miner and marketer - Generates USD25.5 million in revenue from its third and final Kagem emerald auction this year, compared to USD43.7 million at an auction in May-June. In May, revenue was USD21.2 million. The latest auction was held during the period from August 29 to September 15. The rough emeralds sold were extracted by Kagem emerald mine in Zambia, which is 75% owned by Gemfields and 25% by the Industrial Development Corp of Zambia.

Gemfields shares fall sharply after first-half earnings warning

(Alliance News) - Gemfields Group Ltd said on Thursday it expects interim profit to tumbled by over two thirds on the back of sharply lower top-line growth.

Gemfields shares drop as H1 profits sink

(Sharecast News) - Shares in Gemfields tanked on Thursday morning after the gemstones miner and Fabergé owner said both revenues and profits in the first half were down sharply on last year.