Gem Diamonds Reports Lower Revenues for H1 2015

Gem Diamonds Ltd. (LSE:GEMD) announced its results for the first half of 2015, commenting that it brought in revenues of US$118 million, down from US$148.9 million in the year-ago period.
Meanwhile, it recovered 50,019 carats, down from 54,678 carats in the first half of 2014.
Other financial results are as follows:

• Underlying EBITDA of US$ 46.1 million (US$ 63.5 million in H1 2014)
• Attributable profit of US$ 15.4 million (US$ 19.7 million in H1 2014)
• Basic EPS of 10.69 US cents (15.30 US cents in H1 2014)
• Cash on hand of US$ 83.8 million as at 30 June 2015 (US$ 70.5 million attributable to Gem Diamonds)
• A maiden dividend of 5 US cents per share (US$ 6.9 million) paid on 9 June 2015

Further operational results are as follows:

• Average value of US$ 2 264* per carat achieved (US$2 747* in H1 2014)
• Five diamonds greater than 100 carats recovered
• 13 diamonds achieved a total sales value of greater than US$ 1 million each
• Ore treated of 3.1 million tonnes (3.2 million in H1 2014)
• Waste tonnes mined of 11.4 million tonnes (10.0 million tonnes in H1 2014)
• Zero lost time injuries

Click here to read the full Gem Diamonds Ltd. (LSE:GEMD) press release.