Firestone Diamonds Records 52-percent Jump in Revenue
Charlotte McLeod - October 4th, 2013
Firestone Diamonds plc (LSE:FDI) announced its final audited results for the year ended June 30, 2013, commenting that its revenue rose 52 percent, to 9.9 million pounds (US$15.9 million). Meanwhile, its cash operating loss fell by 88 percent, to 1 million pounds ($1.6 million).
Firestone Diamonds plc (LSE:FDI) announced its final audited results for the year ended June 30, 2013, commenting that its revenue rose 52 percent, to 9.9 million pounds (US$15.9 million). Meanwhile, its cash operating loss fell by 88 percent, to 1 million pounds ($1.6 million).
Other highlights include:
RESTRUCTURING INITIATIVES
- Stuart Brown appointed as CEO designate on 2 September 2013
- Unlocking value from the non-core Botswana assets through disposal or joint venture arrangements
- Successful sale of South African alluvial assets
FINANCIAL
- Revenue increased by 52% to £9.9 million (2012: £6.5 million)
- Cash operating loss decreased by 88% to £1.0 million (2012: £8.3 million)
- Care and maintenance costs decreased by 50% to £0.4 million (2012: £0.8 million)
- Corporate expenses decreased by 17% to £1.9 million (2012: £2.3 million)
- Loss for the year decreased by 52% to £14.5 million (2012: £30.4 million)
- Placing concluded on 19 August 2013 raising £3.8 million net of expenses
Click here to read the full Firestone Diamonds plc (LSE:FDI) press release.