De Beers has opened its first retail store in Kuwait, adding it to the only other two stores in the Middle East in Dubai and Bahrain.
"The arrival of De Beers in the Kuwaiti market is an important milestone in the development of our brand and to our local customers, - said Fransua Delazh (François Delag), CEO of De Beers Diamond Jewellers. - It is a great honor - to present a refined, timeless beauty of our diamond jewelry in such a prestigious place, and we hope to inspire the discerning Kuwaiti women. "
Shop area of 145 square meters in the prestigious Avenues mall will complement the existing sales points of De Beers in London, New York, Paris, Beijing, Shanghai, Hong Kong and Tokyo.
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According to the interim results of the company Gemfields, engaged in production of colored gemstones, its revenue decreased by 9% and profit fell immediately by 65% during the first half of the financial year to 31 December.
As noted in the company, for the six months to December 2015 revenues were $ 94 million versus $ 103.4 million in the same period of 2014. Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased from $ 61.7 million to $ 35.6 million in the same period, while net profit fell to $ 8.2 million, compared to $ 23.2 million.
Such low Gemfields performance attributes more evenly laid out stones parties offered on the auction of the company in the first and second half of the 2016 fiscal year compared to the 2015 fiscal year, in which a significant portion of revenues and profits falls on the first half of it.
"During the reporting period the company held three auctions ... one - mainly high-quality emeralds and beryl, the second - emeralds and beryl predominantly lower quality, and the third - rubies and corundum lower quality, whereas in the same period last year, the company held an auction rubies and corundum higher quality ", - said in a statement Gemfields.
In the second half of 2015, the company produced 15.7 million carats of emeralds and beryl with belonging to her 75% of the mine Kagem (Kagem) compared to 12.1 million carats in the second half of 2014, and the average content of precious stones in the rock was 254 carats per ton. The mine Montepuez (Montezpuez) were produced 2.1 million carats of rubies and corundum at an average grade of the ore to 15 carats per tonne. In the second half of 2014 production of these precious stones was 6.3 million carats.
As the company focused on production from the areas of deposits, characterized by a low stone considerably higher cost, number of high-quality rubies mined increased by 341% during the reporting period.
A subsidiary of Fabergé, owned by Gemfields, increased sales by 70% compared to the same period in 2014.
As noted in the Gemfields, in the second half of the 2015 calendar year, the market of colored gemstones has continued to expand. The company maintained its forecast for production at the level of 25-30 million carats of emeralds and beryl, and 8 million carats of rubies and corundum for the 2016 financial year.
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