Petra’s preliminary sales result indicate 10% fall in FY 2015

8d031 sizedownsmall Petra’s preliminary sales result indicate 10% fall in FY 20158d031 sizeupsmall Petra’s preliminary sales result indicate 10% fall in FY 2015
 Petra’s preliminary sales result indicate 10% fall in FY 2015Petra Diamonds’ preliminary results for the year ended 30 June 2015 (FY 2015) indicate a 10 percent drop in its revenues to $425 million ($471.8 million in the previous corresponding year). Its profits after tax dipped 33 percent to $62.8 million, as per reports. The company noted its results were impacted negative owing to underground production being reliant on mature, diluted mining areas, a weak diamond market although it was offset by the weakening in the Rand for the year, reports say.

The company although projected optimism to achieve a production target of around 5 million carats per year by 2019, reports add.



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