Soft diamond market halves De Beers� earnings

Thursday, February 18, 2016

De Beers and Debswana officials at a media briefing in Gaborone last week

De Beers’ earnings before tax decreased by 58 percent to $571 million in the year to December 2015, which was a result of weaker rough diamond demand. The lower earnings were however offset in part by tighter operating cost control and favourable exchange rates.

The group’s revenue dropped down by 34 percent to $4.7 billion from $7.1 billion recorded in the prior year due to lower rough diamond sales, which declined by 36 percent to $4.1 billion.

This was due to a 39 percent reduction in consolidated sales volumes of 19.9 million carats compared to the 32.7 million carats sold in the prior year, partly offset by a five percent increase in the average realised diamond price.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Stand-out: Athletics has over the years been the leading code PIC: BNSC

Athletics likely to go solo at Olympics

Calistus Kolantsho | 1d ago

Amidst BFA fights, Sebego raises hand for presidency

Mqondisi Dube | 1d ago

Chiefs puzzled by docking of points

Boitumelo Khutsafalo | 1d ago

Fitness trainer, Zongwane breaks barriers

Calistus Kolantsho | 1d ago

Khawa dangles largest payout

Kabelo Boranabi | 1d ago

Ex-badminton official maintains innocence

Calistus Kolantsho | 1d ago

Kwa Nokeng Oil sponsors young biker with P120,000

Larona Makhaiza | 1d ago

Kwa Nokeng Oil sponsors young biker with P120,000

Larona Makhaiza | 1d ago

Routine child vaccination imperative

The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...

The Monitor Editor | 15 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

Soft diamond market halves De Beers� earnings

De Beers’ earnings before tax decreased by 58 percent to $571 million in the year to December 2015, which was a result of weaker rough diamond demand. The lower earnings were however offset in part by tighter operating cost control and favourable exchange rates.

Athletics likely to go solo at Olympics

Amidst BFA fights, Sebego raises hand for presidency

Chiefs puzzled by docking of points

Fitness trainer, Zongwane breaks barriers

Khawa dangles largest payout

Ex-badminton official maintains innocence

Kwa Nokeng Oil sponsors young biker with P120,000

Kwa Nokeng Oil sponsors young biker with P120,000

Routine child vaccination imperative