Gemfields Group Limited (AIM:GEM) saw its shares rise over 2% in early trade on Friday after it posted record revenue for 2022, exceeding the US$300mln mark for the first time, rising by 32% to US$341mln, up from US$257.7mln in 2021.
In the results statement, Sean Gilbertson, CEO of Gemfields, commented: "2022 has been a remarkable year for Gemfields Group Limited, with a dramatic recovery as we returned to normality after the Covid-19 pandemic.
"Our strategy of being a world-leading responsible miner and marketer of coloured gemstones is working and is generating considerable revenue and benefits for our host governments and the communities we operate in," he added.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 25% to US$166mln for 2022, and the company saw pretax profit rise by 9.8% to U$114.6mln from US$104.4mln.
Gemfields' net cash at the end of the year was at an all-time high of U$105mln, and US$55mln of auction receivables are now 99% collected.
The company is paying a record final dividend of 2.886 US cents per ordinary share.
In morning trade, Gemfields shares were 2.1% higher at 17.35p.