Pursuits
De Beers Sales Increase 27% on Higher Diamond Demand, Prices
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De Beers, the supplier of about a third of the world’s rough diamonds, reported a 27 percent increase in sales last year on higher demand for the luxury gems in the U.S., China and India.
Sales of unpolished and uncut diamonds by Diamond Trading Co., De Beers’ trading arm, rose to $6.5 billion from $5.1 billion a year earlier, the Johannesburg-based company said today in a statement. Average prices increased 29 percent during the year, pushing net income to $939 million from $546 million. Output declined 5.2 percent to 31.3 million carats.