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Petra Diamonds Ltd - London-based diamond mining company focused on South Africa and Tanzania - Earns more money from selling less diamonds in its financial year to June 30. Diamond sales revenue jumps 44% to $584.1 million from $406.9 million a year ago. Firm profits from vastly increased diamond price as it sells less diamonds in financial year 2022 compared to a year ago. Diamond sales fall 11% to 3.5 million from 4.0 million. However, in the fourth quarter of its financial year 2022, sells 1.205 million diamonds, growing 2% from 1.178 million a year ago.
‘We anticipate [the diamond market] to remain supportive going forward, although there may be some volatility in the short to medium term,’ Petra Diamonds says, citing the war in Ukraine and inflation.
Current stock price: 100.95 pence, up 4.1% on Tuesday
12-month change: up from 0.79p
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