Luxury & gemstone sectors are facing greater uncertainty
Gemfields revenue, reduced compared to the same period last year In accordance with the JSE Listings Requirements, Gemfields advised that the Company is reasonably certain of its expected financial interim results for the six months ended 30 June 2024. Gemfields’ two key operating assets, Kagem Mining Limited and Montepuez Ruby Mining Limitada (MRM), generated revenues of USD 51.9 million and USD 68.7 million respectively in the six months to 30 June 2024 (2023 H1: Kagem – USD 64.6 million; MRM – USD 80.4 million). At the occasion Sean Gilbertson, CEO of Gemfields, commented, “Further to our operational update for the six months to 30 June 2024, which was published on 26 July, we are pleased to provide this trading statement ahead of the release of our Interim Results on Friday 27 September 2024. As previously disclosed, the Group generated auction revenues during the period of USD 120.6 million, as well as USD 6.6 million from Fabergé, contributing to anoth...