Gem Diamonds Posts Record Profit on Higher Prices

Reuters Africa reports Gem Diamonds Ltd (LON:GEMD) said its first-half pretax profit surged 10 times.

The market news is quoted as saying,

Gem, which ended merger talks with Canada’s Lucara Diamond Corp in May, said the supply and demand fundamentals looked better for the future, especially for large exceptional, high-quality, good colour diamonds.

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