De Beers' improving sentiment

摘要

De Beers has posted a 21 percent increase in net profit to R 3,564 million for the year to end-December. Earnings from the sale of diamonds rose from R 2,215 million to R2.748 million (total sales by the Central Selling Organisation were 9 percent higher at R 16,393 million last year), with investment income adding R805 million (R692 million in 1994) and interest R261 million (R191 million). The taxation charge jumped from R470 million to R713 million, largely due to the inclusion of tax on the profits of the Venetia mine. Expenditure on research and prospecting was marginally higher during 1995 at 117 million US dollars. Diamond stocks at year-end were 8 percent higher than twelve months earlier at R17.058 million (in dollars, 5 percent higher at 4,673 million dollars). The net asset value was slightly lower at R 59,275 million, equating to R156/share (linked De Beers/Centenary units).