Gem Diamonds H1 FY26 returns to profit of US$0.6 million; revenue rises 32% to US$59.7 million
Reuters2026/09/03 06:03- Gem Diamonds posted attributable profit of US$0.6 million, swinging from a loss a year earlier; basic EPS was 0.45 US cents.
- Revenue rose 32% to US$59.7 million, driven by stronger pricing; average achieved price climbed to US$1,395 per carat.
- Underlying EBITDA improved to US$8.6 million, supported by cost controls from the Business Resilience programme launched in July 2025.
- Cash climbed to US$20.2 million, cutting net debt to US$0.5 million; undrawn facilities totaled US$69.9 million.
- Management flagged ongoing diamond-market uncertainty, started work on alternative mining methods to access higher-value Satellite ore earlier, and is in talks to refinance December 2026 facilities.
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