trading update29 Jan 2013 10:02
Petra Diamonds Ltd. (PDL.L), in its six-month production and sales trading update, said its production grew 31 percent, while revenues were up by 54 percent.
The group said its first-half production increased 31 percent to about 1.25 million carats. For the half year, revenues grew 54 percent to $156.3 million from $101.4 million, while carats sold were up 57 percent to 1.066 million carats. Petra noted that carat sales were lower than carats produced due to the seasonal timing of its tenders.
Petra expects its previous FY 2013 production guidance of 2.85 million carats to be lower by 7 percent or ca. 200,000 carats, however, Petra's production target of 5 Mcts per annum by FY 2019 remains on track.