Gem Diamonds Limited Suffers a Sharp Slump In H1 FY19 Revenue

Gem Diamonds Limited (LSE: GEMD), for the Half Year period ending 30 June 2019 has reported a sharp plunge in its revenue to $91.3 million as compared to $167.7 million in H1 2018. Attributable profit, from continuing operations, declined to $6.6 million as compared to $26.8 million in H1 2018. On the operational front, the company achieved a record price of $656,934 per carat by selling 13.32 carat pink diamond for $8.8 million.

On 5th September 2019, at the time of writing, GMT 11:08 AM, GEMD shares were trading at GBX 72.80, up by 0.80 points or 1.11% against the previous day closing price.

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