De Beers Sales +26% to $7.4Bln, Earnings +21% to $1.7Bln
February 10, 12
Diamond production for the year totaled 31.3 million carats as against 33 million carats in 2010. Despite this, De Beers produced stellar results due to a rough diamond price increase of 29 percent from January 1, 2011 through to the end of the year. The free cash flow for the year, at $734 million, was well below the previous year’s $943 million. However the company reduced its third party debt to $1.3 billion from the $1.8 billion the previous year. Third party gearing was also reduced to 20.9 percent as against 29.5 percent the previous year.
