Gemfields Group - Coloured gemstones outperforming diamonds
All signs point to continued strength in the market for coloured gemstones, which is in contrast to the weak diamond market conditions. Against this backdrop, Gemfields delivered solid half-year results with EBITDA of US$33.1m (up 3% year-on-year). The company ended June with net cash of US$35.5m, up from US$9.8m in December, driven by the partial sale of its stake in Jupiter, as well as free cash flow from operations.
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