Gem Diamonds (GB:GEMD) has released an update.
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Gem Diamonds Limited showcased a robust first half of 2024 with revenue increasing to $78 million and profits rising to $5.5 million, marking significant improvements from the previous year. The company experienced operational success at the Letšeng mine, with a notable recovery of eight diamonds over 100 carats, contributing to an upward revision of its yearly guidance for carats recovered and sold. Despite global economic challenges and pressure on the diamond market, Gem Diamonds’ focused cost control and operational efficiencies have led to promising financial and operational results.
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