Gemfields is expected to register a net profit after tax of $23.8-million in the first half of the year compared with the net loss after tax of $56.7-million, a year earlier.
Earnings per share are expected to be 2 US cents from a loss per share of 4 US cents.
Gemfields’ Montepuez ruby mine, in Mozambique, and the Kagem emerald mine, in Zambia, recorded revenues of $58.9-million and $31.2-million, respectively during the six months ending 30 June 2021.
The company’s 2020 auction schedule was severely hampered by the many travel, quarantine, and congregating restrictions put in place internationally to mitigate the Covid-19 contagion.
It had to adapt and launch a series of smaller, multi-city, online-based auctions for emeralds and rubies during the first half of 2021.
Gemfields expects to release its results for the period on or about September 23.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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