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Gemstones supplier Gemfields swung to a first-half net profit as the return of mining activity and gemstone demand following the pandemic impact bolstered results.
For the six months ending 30 June 2021, net profit rose to $23.8 million from a loss of $56.7 million year-on-year as revenue increased 548% to $97.2 million.
'We are delighted to announce our return to strong operational and financial performance after the Covid-induced horrors of 2020,' the company said.
'With the mines back in full-swing, a much-improved cash position and the step-change in market demand we've witnessed in our recent auctions, we are palpably excited about the remainder of 2021,' it added.