www.gemfields.co.uk
Gemfields is one of the world´s leading coloured gemstone companies. With a strong focus on Zambian emeralds, Gemfields mines, processes and markets both rough and polished gemstones internationally. Gemfields prides itself on its unique ability to bring ethically produced, conflict-free gemstones of certified provenance directly from mine to market on an integrated basis.
In order to support and influence the entire channel from mine to market, Gemfields is in the process of setting up state-of-the-art Cutting and Polishing facilities with cutting-edge technologies and will offer consumers vast quantities of emeralds in calibrated sizes, high precision and special cuts and large collections of Suites, Pairs, matching earring sets. We will also venture into co-branding projects with large, reputed retailers, most notably the company has acquired a worldwide exclusive 15 year licence to use the Fabergé brand name for coloured Gemstones
Gemfields reports on “outstanding” financial year
Zambia and Madagascar-focused coloured gemstone producer Gemfields (LON:GEM) delivered an eightfold increase in profits and more than doubled its revenues during the year to June 30.
Revenue from sales of the firm’s emerald and beryl gems increased to US$40.2 million from US$19.9 million in 2010, while profit after tax came in at US$21.4 million (2010: US$2.6 million), driven by record annual production of 33 million carats (2010: 17.4 million carats).
The estimated cost of Gemfields’ cost of emerald inventory was slightly greater at US$18.7 million, compared with US$16.6 million in 2010. Meanwhile, the average monthly operating costs at the firm’s Kagem mine were contained at approximately US$1.1 million.
Since the end of June, Gemfields said it completed a successful rough emerald auction that yielded record sales of US$31.6 million. The firm has also recently begun various expansion, exploration and other growth projects within its Zambian and Madagascan licence areas.
“The past financial year has been an outstanding one for Gemfields,” said Ian Harebottle. “We have doubled revenues, improved our profit eightfold and, following our record rough emerald auction in July, we have started the new financial year strongly. Production is up, costs are well contained and increasing demand from both the trade and consumer markets alike confirms the success of our various marketing and promotional efforts. We look forward to the prospect of continued growth and expansion throughout the coming year.”
