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Petra Diamonds ( (GB:PDL) ) has shared an update.
Petra Diamonds reported interim results for H1 FY 2025, highlighting a successful implementation of cost reduction measures despite a challenging diamond market. The company achieved a 19% reduction in mining and processing costs, and a 32% decrease in capital expenditure, leading to improved cash flow from operations. However, lower revenue impacted EBITDA and led to covenant breaches, which were waived by the lender. The restructuring plan, including the sale of Koffiefontein and an agreement to sell Williamson, aims to streamline operations and enhance resilience against market fluctuations.
More about Petra Diamonds
Petra Diamonds Limited is a company in the diamond mining industry, focusing on the exploration, mining, and sale of rough diamonds. The company operates several mines and is known for its efforts in cost reduction and operational optimization.
YTD Price Performance: -6.45%
Average Trading Volume: 277,443
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £56.32M
For a thorough assessment of PDL stock, go to TipRanks’ Stock Analysis page.