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Petra Diamond Production, Revenues Up

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Diamond company Petra Diamonds had a good year on the back of rising production levels. Revenue increased 44% to $316.9 million in the year ended June 30, while diamond production nearly doubled to 2.2 million carats.
The average price per carat Petra achieved declined 19% to $152.03, based on figures the company published in a trading update on Tuesday.
The improved production results include now mining at the Finsch mine in South Africa.
Petra sold 2.1 million carats in the fiscal year, up 77% compared to the previous fiscal year.
The company will be publishing a full year analyst guidance on August 15 and announce its full financial results for the year on September 24.
By: IDEX Online
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