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Share Price: 12.375

Bid: 12.00

Ask: 12.75

Change: -0.375 (-2.94%)

Spread: 0.75 (6.25%)

Open: 12.75

High: 12.75

Low: 12.25

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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)

More News

24 Mar 2023 08:09

Gemfields annual revenue hits record in 2022 on strong gemstone demand

(Alliance News) - Gemfields Group Ltd on Friday reported that its performance in 2022 was "remarkable", as the coloured gemstone market returned to normality after the Covid-19 pandemic that hit in 2020.

14 Feb 2023 10:58

IN BRIEF: Gemfields unit shuts operations after attack in Mozambique

Gemfields Group Ltd - London-headquartered gemstones supplier - Says its subsidiary Nairoto Resources Ltda has ceased operations following an insurgency attack in the Cabo Delgado province, Mozambique. Nairoto Resources, in which Gemfields owns 75% stake, starts evacuating its operational employees and contractors. Says there is no impact on operations at Montepuez Ruby Mining Ltda, another Mozambican business in which is also hold 75%.

31 Jan 2023 09:14

IN BRIEF: Gemfields hits new annual auction revenue record

Gemfields Group Ltd - London-headquartered gemstones supplier - Sets new annual auction revenue of USD316 million in 2022, up 32% from USD240 million in 2021. Gemfields owns 75% in Montepuez Ruby Mining Ltda in Mozambique. It also holds 75% of Kagem Mining Ltd in Zambia. The company operates a retail unit Faberge.

20 Dec 2022 10:12

IN BRIEF: Gemfields begins USD10 million share buyback programme

Gemfields Group Ltd - London-headquartered gemstones supplier - Begins USD10 million share buyback programme, after receiving approval from shareholders at its extraordinary general meeting, held late last month.

9 Dec 2022 10:38

IN BRIEF: Gemfields ruby auction lifts annual revenue to new record

Gemfields Group Ltd - London-headquartered gemstones supplier - Generates USD66.8 million in revenue following a ruby auction held in Bangkok from November 21 to Thursday. The rough rubies sold were extracted from the mining licence held and operated by Montepuez Ruby Mining Ltda, which

18 Nov 2022 09:26

IN BRIEF: Gemfields records USD30.8 million in revenue after auction

Gemfields Group Ltd - London-headquartered gemstones supplier - Generates USD30.8 million in revenue after an emerald auction held from October 30 to this past Thursday. At an auction in May, the first one this year, Gemfields reported revenue of USD43.3 million.

24 Oct 2022 08:05

Gemfields operations resume in Mozambique after insurgency attack

(Alliance News) - Gemfields Group Ltd said on Monday its operations in the northern Cabo Delgado province in Mozambique have resumed after militants raided its neighbouring ruby mine last week.

20 Oct 2022 13:06

Gemfields shares sink as operations cease after attack in Mozambique

(Alliance News) - Gemfields Group Ltd said on Thursday it remained vigilant after a neighbouring ruby mine came under attack in the northern Cabo Delgado province in Mozambique this morning.

20 Oct 2022 12:22

LONDON MARKET MIDDAY: FTSE lower as UK PM Truss hangs on by thread

(Alliance News) - Blue-chip European equities struggled to make headway on Thursday, with US Federal Reserve rate hike worries and UK political instability hitting the investment mood.

19 Oct 2022 15:17

IN BRIEF: Gemfields CEO takes direct interest in 1.5 million shares

Gemfields Group Ltd - London-headquartered gemstones supplier - Chief Executive Sean Gilbertson buys 1.5 million shares at 14.32 pence, worth GBP216,995, on Tuesday. Gilbertson previously had held the shares indirectly via a non-controlling interest in Pallinghurst Resources Management LP but, following Tuesday's off-market transaction, now holds them directly in his name.

29 Sep 2022 08:16

Gemfields interim profit soars after record-breaking auction takings

(Alliance News) - Gemfields Group Ltd on Thursday reported its interim profit more than doubled in the first half of 2022, due to record-breaking auction results.

27 Sep 2022 08:11

IN BRIEF: Gemfields gets USD4 million from sapphire and ruby auction

Gemfields Group Ltd - London-headquartered gemstones supplier - Generates USD4.2 million in revenue from auction of predominantly corundum, commercial-quality sapphire and low-quality ruby held last week. The gemstones were extracted by Montepuez Ruby Mining Ltda in Mozambique, which is 75% owned by Gemfields and 25% by Mwiriti Ltda.

26 Sep 2022 08:16

REPEAT: Gemfields sees interim profit rise on strong gemstone demand

(Alliance News) - Gemfields Group Ltd on Monday said it expects its profit to more than double due to robust demand for coloured gemstones, including emeralds and rubies.

26 Sep 2022 07:59

Gemfields expects interim profit to soar on strong gemstone demand

(Alliance News) - Gemfields Group Ltd on Monday said it expects its profit to more than double due to robust demand for coloured gemstones, including emeralds and rubies.

20 Sep 2022 07:36

IN BRIEF: Gemfields hits second-highest revenue mark at Kagem auction

Gemfields Group Ltd - London-headquartered gemstones supplier - Generates revenue of USD32.9 million, the second-highest figure ever achieved at a Kagem auction. The auction of predominantly commercial quality rough emeralds was held from August 31 to September 19. Gemfields recorded an all-time high revenue of USD42.3 mllion at the auction held from March 15 to April 1.

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