YoY profit grinded at Gemfields

Gemfields Group Limited, said in a Trading Statement that, Gemfields is reasonably certain that its net profit after tax will be USD 12.4 million for the 6-month period to 30 June 2019 compared to a net profit after tax of USD 16.0 million for the comparative period of 6 months to 30 June 2018. In ZAR terms, net profit after tax will be ZAR 177 million (ZAR 197 million net profit after tax for the comparative period).

 

Earnings and headline earnings per share are expected to be USDc 1.0 for the 6-month period to 30 June 2019 compared to earnings and headline earnings per share of USDc 1.0 for the comparative period. In ZAR terms, earnings and headline earnings per share will be ZAR 0.11 (ZAR 0.12 earnings and headline earnings per share for the comparative period).

 

Gemfields is a world leading supplier of responsibly sourced coloured gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia and the Montepuez ruby mine in Mozambique. In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting licenses in Zambia, Mozambique, Ethiopia and Madagascar.

 

Gemfields’ outright ownership of Fabergé - an iconic and prestigious brand of exceptional heritage - enables

Gemfields to optimise positioning, perception and consumer awareness of coloured gemstones, advancing the wider group’s mine and market vision.

 

Gemfields has developed a proprietary grading system and a pioneering auction and trading platform to provide a consistent supply of coloured gemstones to downstream markets, a key component of Gemfields’ business model and has played an important role in the growth of the global coloured gemstone sector.

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