Petra H1 Sales $90M
January 13, 11
(IDEX Online News) - Petra Diamonds Limited’s production totaled 582,102 carats in the six months ended 31 December 2010. Group revenue shot up 44 percent to $90 million, helped by an increase in rough prices.
Petra sold 584,234 carats at an average value of $154.05 p/c.
The company said that it is on track to achieve its production target of about 1.3 million carats for the 2011 financial year. In fiscal 2010, actual production was 1,164,856 carats. Longer term, Petra's objective is to double annual production to around 2.5 million carats by fiscal 2014 and further increase output to “well over” 3 million carats by fiscal 2019.
In its outlook for the second half of the fiscal year, Petra said it expects steady at its South African operations, augmented by increased production from Kimberley Underground and limited production from the refurbished plant at Williamson during the fourth quarter.
Petra's interim results for the period will be published on February 21.