Gem Diamonds reports higher revenue despite lower prices
LSE-listed diamond producer Gem Diamonds sold 28 461 ct of diamonds during the quarter ended March 31, up from 24 790 ct sold in the quarter ended December 31. It generated revenue of $52.1-million for the quarter, compared with the $50-million generated in the prior quarter, with the average price having decreased to $1 831/ct, down from $2 018/ct in the December quarter.