{"id":12611,"date":"2012-07-20T13:05:40","date_gmt":"2012-07-20T11:05:40","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/de-beers-sees-earnings-halve-sees-tough-h2-ahead\/"},"modified":"2012-07-20T13:05:40","modified_gmt":"2012-07-20T11:05:40","slug":"de-beers-sees-earnings-halve-sees-tough-h2-ahead","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/de-beers-sees-earnings-halve-sees-tough-h2-ahead\/","title":{"rendered":"De Beers sees earnings halve, sees tough H2 ahead"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, July 20<\/span> (Reuters) &#8211; De Beers, the world&#8217;s largest<br \/>\ndiamond producer by value, said earnings halved in the first six<br \/>\nmonths of the year amid tough trading conditions, compared to a<br \/>\nbumper start to last year, with the remainder of 2012 set to<br \/>\nremain challenging.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>De Beers, which vies with Russia&#8217;s Alrosa for the title of<br \/>\nthe world&#8217;s largest diamond producer, said profit before finance<br \/>\ncharges and taxation for the first half totalled $502 million,<br \/>\nfrom $1.02 billion reaped the first six months of 2011.<\/p>\n<p><span><\/span><\/p>\n<p>Total sales dipped to $3.3 billion from $3.9 billion in the<br \/>\nfirst half a year ago, while diamond production dipped to 13.4<br \/>\nmillion carats as the producer continued to focus on repairs and<br \/>\nmaintenance, while it awaits improved demand from key clients,<br \/>\nknown as sightholders.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;De Beers expects trading conditions in the mid-stream to<br \/>\nremain challenging during the second half of 2012,&#8221; the company<br \/>\nsaid in a statement. &#8220;De Beers will continue to produce in line<br \/>\nwith sightholder demand and invest in stimulating and capturing<br \/>\nconsumer demand growth.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Anglo American, which owns a 45 percent stake in De<br \/>\nBeers, agreed in November last year to take majority control of<br \/>\nthe miner by buying out the Oppenheimer family stake.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON, July 20 (Reuters) &#8211; De Beers, the world&#8217;s largest diamond producer by value, said earnings halved in the first six months of the year amid tough trading conditions, compared to a bumper start to last year, with the remainder of 2012 set to remain challenging. De Beers, which vies with Russia&#8217;s Alrosa for the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12611","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12611"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12611\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}