DTC Diamond ’04 Sales $5.7 Billion, DB Total Diamond Sales $6.21 Billion
February 03, 05
De Beers' marketing arm the Diamond Trading Company (DTC) sold $5.695 billion worth of rough diamonds last year, the company said this morning. However, De Beers had additional diamond sales of $512 million, bringing total diamond sales to $6.207 billion, much higher than expected by many.
|
|
The additional diamond sales are mostly of polished diamonds.
Headline earnings for 2004 were $652 million, 11 percent higher than in 2003, while operating cash flow stood at $985 million. The miner’s debt is down to $1.588 billion, from $1.762 billion at the close of 2003.
De Beers’ mining operations produced 47 million carats, 7 percent more than in 2003.
The company's board of directors has recommended a dividend of $200 million that comes on top of a $250 million dividend paid in August.