{"id":7863,"date":"2012-02-10T13:55:59","date_gmt":"2012-02-10T11:55:59","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-2-de-beers-profits-up-after-bumper-price-rises\/"},"modified":"2012-02-10T13:55:59","modified_gmt":"2012-02-10T11:55:59","slug":"update-2-de-beers-profits-up-after-bumper-price-rises","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-de-beers-profits-up-after-bumper-price-rises\/","title":{"rendered":"UPDATE 2-De Beers profits up after bumper price rises"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* De Beers says 2011 EBITDA up 21 pct at $1.7 bln<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Diamond Trading Company sales up 27 pct<\/p>\n<p><span><\/span><\/p>\n<p>* DTC prices up 29 percent over the year, broader market up<br \/>\n11-13 pct<\/p>\n<p><span><\/span><\/p>\n<p>By Clara Ferreira-Marques<\/p>\n<p><span><\/span><\/p>\n<p>CAPE TOWN, Feb 10 (Reuters) &#8211; Diamond producer De<br \/>\nBeers warned it expected to feel the impact of uncertain markets<br \/>\nfor months to come after investors and buyers took cover in the<br \/>\nsecond half, but 2011 profits rose by more than a fifth thanks<br \/>\nto a bumper start to the year.<\/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 demand for the gems<br \/>\nwould continue to grow in 2012 thanks to Chinese and U.S.<br \/>\nconsumers, though at a lower pace after a bumper 2011, with many<br \/>\nof its own rough diamond buyers still cautious.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;I don&#8217;t believe we will see a major crash, but there is<br \/>\ncertainly a lot of uncertainty,&#8221; said Chief Executive Philippe<br \/>\nMellier, a mechanical engineer who took the reins at De Beers<br \/>\nlast year after a lengthy search by the company to fill the top<br \/>\njob.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;On the other hand, all luxury goods appear to be holding<br \/>\nvery well, and as a result the luxury goods companies are<br \/>\nshowing there is still strong demand&#8230; This is very positive<br \/>\nfor the diamond industry, which is positioned at the very top<br \/>\nend of luxury goods.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>LVMH, the world&#8217;s biggest luxury goods group,<br \/>\nearlier this month shrugged off concerns over the global economy<br \/>\nwith a forecast-beating rise in profit and a dividend hike.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* De Beers says 2011 EBITDA up 21 pct at $1.7 bln * Diamond Trading Company sales up 27 pct * DTC prices up 29 percent over the year, broader market up 11-13 pct By Clara Ferreira-Marques CAPE TOWN, Feb 10 (Reuters) &#8211; Diamond producer De Beers warned it expected to feel the impact of [&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-7863","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\/7863","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=7863"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7863\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}