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Pin to quick picksGemfields Grou. Share News (GEM)

Share Price Information for Gemfields Grou. (GEM)

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Share Price: 12.75
Bid: 12.50
Ask: 13.00
Change: 0.00 (0.00%)
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Open: 12.75
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Gemfields swings to full-year profit

Mon, 22nd Sep 2014 07:04

Sept 22 (Reuters) - Precious stones miner Gemfields Plc swung to a full-year profit as its revenue from the saleof emeralds and rubies more than tripled.

The company reported a pretax profit of $36.3 million forthe year ended June 30. It reported a pretax loss of $20.1million a year earlier.

The London-listed miner's revenue jumped to $160.1 millionfrom $48.4 million a year earlier. Revenue from its first rubyauction this year generated about $33.5 million.

Gemfields currently mines emeralds in Zambia and rubies inMozambique. Last week the company said it would hunt forsapphires in Sri Lanka. (Reporting by Karen Rebelo in Bangalore; Editing by GopakumarWarrier)

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