Shares in Petra Diamonds fail to sparkle despite record production

first_img whatsapp Shares in Petra Diamonds fail to sparkle despite record production Caitlin Morrison Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap Monday 27 October 2014 8:54 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksRelated ArticlesTop 10 Date Night In Movies & Films Of All Time10 Amazing RVs You Won’t Want To Miss8 Surprisingly Simple Ways to Keep Your Liver Healthycenter_img whatsapp Share MINING firm Petra Diamonds has reported its highest quarterly production since the company launched in 1997, at 833,744 carats for the first quarter of 2014-15, up two per cent from the 816,735 carats recorded at the same time last year. Revenue also grew to $100.8m (£62.5m), up 55 per cent on $65.1m in 2013-14, despite total sales falling by 10 per cent to 532,250 carats. Shares fell 2.9 per cent yesterday, closing at 170.1p.The company said the diamond market is currently exhibiting its “customary post summer softness”, which is typically the quietest time for rough diamond sales. However, it expects the market to firm up once the festive sales period starts near the end of November. Petra announced the sale of a 232 carat white diamond for $15.2m last week. The company also runs the Williamson mine, which produced the Williamson Pink. That stone was given to the then Princess Elizabeth as a birthday present in 1947. Tags: Company Petra Diamonds Ltdlast_img

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