Business
Full Year 2017 Results
Full Year 2017 Results.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 6371H Gem Diamonds Limited 14 March 2018 \n\nGem Diamonds Limited\n \nFull Year 2017 Results \n \nWednesday, 14 March 2018\n \nGem Diamonds Limited (LSE: GEMD) (\"Gem Diamonds\", the \"Company\" or the \"Group\") announces its Full Year Results for the year ending 31 December 2017 (the \"Period\").\n \nFINANCIAL RESULTS:\n- Revenue of US$214.3 million (US$189.8 million in 2016)\n- Underlying EBITDA pre-exceptional items of US$48.6 million (US$62.8 million in 2016)\n- Profit for the year (pre-exceptional items) US$20.8 million (US$32.4 million in 2016)\n- Attributable profit (pre-exceptional items) US$9.1 million (US$17.7 million in 2016)\n- Earnings per share (pre-exceptional items) 6.6 US cents (12.8 US cents in 2016)\n- After the exceptional items of US$3.6 million, attributable profit was US$5.5 million and earnings per share was 4.0 US cents\n- Cash on hand of US$47.7 million as at 31 December 2017 (US$35.2 million attributable to Gem Diamonds)\n\nOPERATIONAL RESULTS:\nLetšeng\n- Carats recovered of 111 811 (108 206 in 2016)\n- Waste tonnes mined of 29.7 million tonnes (29.8 million tonnes in 2016)\n- Ore treated of 6.4 million tonnes (6.6 million in 2016)\n- Average value of US$1 930 per carat achieved (US$1 695 in 2016) \n- Seven diamonds larger than 100 carats each recovered (Five in 2016)\n- 7.87 carat pink diamond achieved US$ 202 222 per carat, making it the second highest price per carat achieved by a Letšeng rough diamond \n- 58.38 carat white diamond achieved US$ 61 905 per carat, making it the highest price per carat achieved for a Letšeng rough white diamond for 2017\n\nGhaghoo\n- Achieved full care and maintenance in March 2017 \n- Process to dispose of asset commenced\n\nDividend\nThe Board has resolved not to propose the payment of a dividend in respect of the 2017 financial year\n ...