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Gemfields Group Ltd - gemstones producer in Mozambique and Zambia and owner of luxury brand Faberge - Generates revenue of $69.5 million from its ruby auction, down 14% from $80.4 million in June. The latest ruby sale was held during November 20 to December 5. Compared to 2022, ruby revenue was up 4.0% from $66.8 million at an auction that took place on November 21 to December 8. The auction lots this month were made available in Bangkok for private, in-person viewings by customers. ‘We’ve seen ruby prices at our auctions go from strength to strength in recent years and our final auction of 2023 has further endorsed that trend. This auction has shown that the demand and pricing for rough rubies is decidedly healthy,’ Gemfields Managing Director Adrian Banks says. Gemfields says its total auction revenue for 2023 stands at $242 million, the second highest in its history. Current London stock price: 12.98 pence, up 1.8% on Wednesday afternoon 12-month change: down 29% Johannesburg stock price: R 3.05, up 1.7% 12-month change: down 19% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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