De Beers, the diamond mining giant owned by Anglo American PLC (LON:AAL) boosted income in its third sales cycle of 2019 to US$575mln. That was up from the more modest US$496mln received in the second sales cycle of 2019 and the US$500mln received in the first.
It was also higher than the US$542mln received in the corresponding cycle a year ago.
"As we move into the second quarter of the year, we saw a continuation of stable demand for our rough diamonds during the third cycle of 2019," said De Beers chief executive Bruce Cleaver.
Yuen Low, a well-known analyst at Shore Capital commented: “This is consistent with reports from other companies, and that the first half is being a seasonally stronger period for diamond demand.”