Gem Diamonds Ltd. (DI) (GEMD)

Sector:

Mining

Index:

FTSE Fledgling

11.73p
   
  • Change Today:
    -0.100p
  • 52 Week High: 14.85
  • 52 Week Low: 7.99
  • Currency: UK Pounds
  • Shares Issued: 139.72m
  • Volume: 222,970
  • Market Cap: £16.38m
  • RiskGrade: 292

Gem Diamonds H1 profit falls after Covid disrupts operations

By Michele Maatouk

Date: Thursday 03 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Gem Diamonds reported a decline in first-half pre-tax profit on Thursday as revenue fell after its operations were disrupted by the Covid-19 crisis.

In the six months to the end of June, pre-tax profit fell to $2.5m from $18.7m in the first half of last year, with revenue down to $69.5m from $91.3m. Underlying earnings before interest, tax, depreciation and amortisation came in at $11.3m, down from $25.3m in the same period a year ago.

Gem said it incurred Covid-19 standing costs of $3.3m after its operation were suspended for a month due to the pandemic.

Chief executive officer Clifford Elphick said: "Letseng delivered satisfactory operational results notwithstanding the imposed shutdown of 30 days during the period to curb the spread of Covid-19. The frequency of large diamonds recovered improved in all size categories greater than 10.8 carats when compared to the previous period.

"Despite the challenging global conditions, the sales results during the period demonstrated the continued demand for Letseng's high quality diamonds, achieving an average price of $1 707 per carat. It is also pleasing to note the reopening of key sectors within the diamond industry, in particular the manufacturing sector, which should support positive demand in the short to medium term."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

GEMD Market Data

Currency UK Pounds
Share Price 11.73p
Change Today -0.100p
% Change -0.85 %
52 Week High 14.85
52 Week Low 7.99
Volume 222,970
Shares Issued 139.72m
Market Cap £16.38m
RiskGrade 292

GEMD Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
7.08% below the market average7.08% below the market average7.08% below the market average7.08% below the market average7.08% below the market average
53.97% below the sector average53.97% below the sector average53.97% below the sector average53.97% below the sector average53.97% below the sector average
Price Trend
11.32% above the market average11.32% above the market average11.32% above the market average11.32% above the market average11.32% above the market average
22.63% above the sector average22.63% above the sector average22.63% above the sector average22.63% above the sector average22.63% above the sector average
Income Not Available
Growth
98.34% below the market average98.34% below the market average98.34% below the market average98.34% below the market average98.34% below the market average
96.61% below the sector average96.61% below the sector average96.61% below the sector average96.61% below the sector average96.61% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

GEMD Dividends

  Latest Previous
  Final Final
Ex-Div 19-May-22 13-May-21
Paid 21-Jun-22 15-Jun-21
Amount 2.70¢ 2.50¢

Trades for 31-Oct-2024

Time Volume / Share Price
14:03 125,000 @ 10.97p
15:17 2,567 @ 11.10p
15:10 5,000 @ 11.34p
14:05 25,000 @ 11.04p
13:29 710 @ 11.25p

GEMD Key Personnel

CEO Clifford Thomas Elphick
CFO Michael Michael

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