Gem Diamonds Ltd - London-based diamond miner - Sells more carats in the quarter ended March 31 than the quarter before. Carat sales up at 28,461 from 24,790 quarter-on-quarter. Revenue rises to USD52.1 million from USD50.0 million. However, average price per carat falls to USD1,831 from USD2,018, and production of carats during the quarter falls to 28,430 from 33,069 in the last quarter of 2021.
"We remain confident about the outlook for diamond prices," comments Chief Executive Officer Clifford Elphick. "Prices achieved on a like-for-like basis continued the largely upward trend from 2021."
Current stock price: 65.20 pence, down 4.4% on Thursday, down 10% from Tuesday close
12-month change: down 9.7%
By Tom Budszus; tombudszus@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Gem Diamonds Di (GEMD)