Petra Diamonds Ltd.(DI) (PDL)

Sector:

Mining

Index:

FTSE Small Cap

40.00p
   
  • Change Today:
    -0.025p
  • 52 Week High: 78.50
  • 52 Week Low: 37.00
  • Currency: UK Pounds
  • Shares Issued: 194.20m
  • Volume: 26,860
  • Market Cap: £77.68m
  • RiskGrade: 380

Petra hails 'watershed' year as revenues jump

By Abigail Townsend

Date: Tuesday 14 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Petra Diamonds has announced a jump in final revenues, after what the mining firm called a "watershed" year.
Revenues in the year to 30 June rose 65% to $402.3m, while adjusted earnings before interest, tax, deductibles and amortisation were £135.4m, against £67.3m a year previously. Output for the year decreased 2% to 3.24m carats.

The adjusted pre-tax net loss narrowed to £8.9m from £74.0m, while pre-tax profits came in at £196.6m, against last year's loss of £223m.

Richard Duffy, chief executive, said: "The 2021 full year was a watershed year for Petra. Besides the challenges of the Covid-19 pandemic, we completed a capital restructuring which, together with the sale of a number of exceptional blue and white diamonds from the Cullinan mine, served to reduce consolidated net debt by around two thirds, to $228.2m.

"We now have a more stable capital structure, considerably reduced debt obligations and greater liquidity."

Looking ahead to the current year, the firm conceded that the pandemic remained an "ongoing business challenge" following a third wave of infections in South Africa.

But Duffy said the strong recovery seen in the diamond market during the fourth quarter had continued into the new year, which had "further bolstered our improved financial position".

"We enter the 2022 full year with some momentum from a considerably strengthened balance sheet, ongoing optimisation of our asset base and a positive outlook for the diamond market," he said.

Shares in Petra, which has three underground mines in South Africa and one open pit mine in Tanzania, were ahead 3% at 1.78p as at 1230 BST.

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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.

 

PDL Market Data

Currency UK Pounds
Share Price 40.00p
Change Today -0.025p
% Change -0.06 %
52 Week High 78.50
52 Week Low 37.00
Volume 26,860
Shares Issued 194.20m
Market Cap £77.68m
RiskGrade 380

PDL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
0.27% below the market average0.27% below the market average0.27% below the market average0.27% below the market average0.27% below the market average
43.51% above the sector average43.51% above the sector average43.51% above the sector average43.51% above the sector average43.51% above the sector average
Price Trend
86.86% below the market average86.86% below the market average86.86% below the market average86.86% below the market average86.86% below the market average
51.05% below the sector average51.05% below the sector average51.05% below the sector average51.05% below the sector average51.05% below the sector average
Income Not Available
Growth
58.01% below the market average58.01% below the market average58.01% below the market average58.01% below the market average58.01% below the market average
62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average62.5% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 5
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PDL Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 15-Oct-15
Paid n/a 07-Dec-15
Amount 0.000¢ 3.00¢

Trades for 28-Mar-2024

Time Volume / Share Price
11:02 2,000 @ 40.00p
11:02 2,841 @ 40.11p
10:40 11,945 @ 40.11p
09:45 4,190 @ 41.00p
08:20 5,545 @ 40.11p

PDL Key Personnel

Finance Director Jacques Breytenbach
Chair Varda Shine
CEO Richard Duffy

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