Cullinan diamond sale boosts Petra
Tuesday 21 September 2010
Petra diamonds, the largest diamond producer on London's junior AIM market, posted better-than-expected annual results yesterday, boosted by the sale of the 507-carat Cullinan Heritage diamond.
It swung to a record net profit of $70.2m (£45m) for the year to end June from a loss of $89m the previous year. Revenues jumped 88 per cent after it received $35.3m for the Cullinan Heritage, a record price for a rough diamond, and on a recovery in gem prices.
The company produced 1.16 million carats and said expansion plans are on target to more than double production by 2014 and more than triple output by 2019. Petra also said it is in talks to buy the Finsch and Namaqualand mines in South Africa from De Beers.
- 1 Katie Hopkins gives rare glimpse of sensitive side with heartfelt open letter to her children penned in case she dies from epilepsy
- 2 Rihanna's Met Gala dress took one Chinese woman 2 years to make, was reduced to omelette meme in 2 seconds
- 3 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to replace Jeremy Clarkson and co
- 4 #JeSuisEd: People share photos of themselves eating awkwardly in solidarity with Labour leader
- 5 Women think Irish men are the sexiest, survey finds
In defence of liberal democracy
General Election 2015: Post-election 'shambles' looms as 70 per cent of voters say SNP 'should not be able to veto UK government policies'
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
General Election 2015: Sturgeon claims Scots 'appalled' by Ed Miliband's refusal to work with SNP
iJobs Money & Business
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£27 - 35k + Bonus + Benefits: Guru Careers: A Management Accountant is needed ...
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...