Petra Diamonds (LON:PDL) has raised full-year production guidance after a sparkling set of interim results.
The company now expects to produce around 3.3mln carats in the 12 months to the end of June, up slightly from its previous guidance of around 3.2mln carats.
The company said revenue in the current financial year will be weighted towards the second half.
First half revenue rose 16% to US$214.8mln from US$184.6mln the year before, while profit before tax advanced to US$57.6mln from US$46.0mln.
Net debt at the end of 2014 was down 58% to US$45.8 million from US$108.8 million a year earlier.
"While the diamond market remains under pressure, there are encouraging signs that we are seeing a stabilisation in market conditions, as evidenced by good demand levels at our first tender in H2 FY 2015," said chief executive, John Dippenaar.
"Our continued growth trajectory and robust financial position places Petra in a good position to capitalise on the attractive medium- to long-term fundamentals for our industry," he added.
Shares were up 3% at 180.4p in the first hour of trading.