Record prices mean record earnings for Gem Diamonds
19th Aug 2011 07:49
High diamond prices have helped Gem Diamonds achieve record earnings in the first six months of 2011, which surged almost five-fold compared with the first half of 2010. Earnings before interest, tax, depreciation and amortisation jumped to $90.8m (£54.99m), a significant increase on the $18.5m (£1
Read moreGem Diamonds helped by record prices
10th Aug 2011 07:41
Gem Diamonds, the global diamond firm has seen its cash position boosted by record prices for rough diamonds. It's facility in Lesotho, Let?eng, achieved a record average value of US$3 052 per carat in the first half of 2011 while at its Ellendale mine in Australia fancy yellow diamonds (which are
Read moreGem Diamonds provides details on diamond price increases
25th Jul 2011 12:42
Global diamond producer Gem Diamonds has today provided a trading update on its results for the half year to 30th of June 2011, ahead of its regular results release scheduled for the next 19th of august 2011. Particularly worth pointing out, the company has indicated that the expansion of its Lets
Read moreGem Diamonds and Lucara end talks
4th May 2011 07:37
Gem Diamonds is no longer in merger talks with the Canada-listed miner Lucara Diamond, it said today. "No agreement has been reached in its preliminary discussions with Lucara Diamond Corp and these discussions are no longer ongoing," said Gem, which operates in Africa, Australia and Indonesia. Lu
Read moreLondon close: Shares soar as updates impress
20th Apr 2011 16:47
Optimism returned to the markets in a big way Wednesday as corporate results in the UK and overseas suggested global economic recovery is underway. The FTSE 100 stormed back above 6,000 points. Chip groups ARM Holdings and Imagination Technologies were strong performers after a bullish update from
Read moreFTSE 250 movers: DS Smith lifted higher after update
20th Apr 2011 13:19
Recycled packaging group DS Smith is the top of the bunch today after saying that the year ending 30 April is progressing 'in line' with good improvements in return on sales and "significant" earnings growth, as the group has been able to tackle rising input costs. Home products retailer Home Reta
Read moreLondon midday: FTSE 100 storms past 6,000
20th Apr 2011 12:03
The top share index has soared back above the 6,000 point mark, with some well-received corporate news here and overseas whetting traders' appetites. ARM Holdings is leading the FTSE 100 higher after a strong update from its US peer Intel, while miners move ahead as metals prices advance. Antofagas
Read moreGem Diamonds boosts production at Lesotho mine
20th Apr 2011 08:43
Global diamond producer Gem Diamonds increased production from its Letseng mine in Lesotho in the first quarter of 2011 and benefited from higher prices. The company said 26,541 carats were recovered at its Letseng operations, up 29% from the same period in 2010. The average value per carat from Le
Read moreTuesday tips round-up: Regus, Netcall, Cobham...
22nd Mar 2011 06:38
Serviced office group Regus's proposition is that as workforces become more mobile, employers will rent offices rather than own them outright. In the long term, there is no question that Regus will continue to build on these positive trends. But with the shares on more than 20 times this year's ea
Read moreFTSE 250 movers: Regus jumps on 2011 outlook
21st Mar 2011 15:43
Regus, the serviced office specialist, soared on Monday despite reporting a substantial fall in profits in 2010. Pre-tax profit dropped from £86.9m to £7.8m, but chief executive Mark Dixon did give an upbeat outlook on trading in 2011. "Arguably the recession of the last two years has been good fo
Read moreLondon afternoon: Stocks consolidate gains
21st Mar 2011 14:53
Stocks have largely been in consolidation mode in the afternoon session after a strong performance this morning. Telecoms titan Vodafone is a high riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm will become number one, but both AT&
Read moreLondon midday: Stocks back on the climb
21st Mar 2011 12:23
Footsie finished the morning 10 points or so below its high for the day after regaining impetus following a mild spell of profit taking mid-morning. Telecoms titan Vodafone is a high riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm
Read moreGem confirms talks with Canada's Lucara
21st Mar 2011 07:52
Global diamond producer Gem Diamonds has confirmed press speculation that it is in preliminary merger talks with TSX Venture Exchange-listed miner Lucara Diamond. Should any merger take place it is likely that any transaction would be classed as a reverse takeover under UK listing rules because of
Read moreFTSE 250 movers: Heritage hit by oil prices
15th Mar 2011 15:48
The FTSE 250 index is down 2% as fears of a nuclear catastrophe in Japan continue to weigh down on sentiment. Falling oil prices have hit Heritage Oil which is down over 13%. Insurance underwriter Lancashire Holdings is also making losses after saying it is too early to give a meaningful estimate o
Read moreGem Diamonds boosted by rising prices
15th Mar 2011 07:10
Record average prices for stones from its Let?eng and Ellendale mines towards the end of 2010 helped diamond miner Gem lift profits by nearly 40% last year. Revenues in 2010 rose to $266m from $243m, underlying profits rose by 47% to $82m and pre-tax profits rose 39% to $54.5m. Apart from a recove
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