[Wedding Pearl Jewelry | Bridal Pearl Necklace] 4/15/2018 09:35:00 AM

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Rio Tinto Group announced an increase in profits from core activities by 21% in the first half, the company said in a press release. At the same time, the profit of the diamond division of the company fell by 17% year-on-year to $ 160 million.
Income indicators for the first half of 2014 take into account tax payments of Rio Tinto Diamonds in the amount of $ 25 million relating to previous years.
In absolute terms, the company's operating expenses for the reporting period were $ 188 million lower compared to the first half of 2013, including $ 100 million won on the exchange difference. Cash inflow from operating activities of $ 424 million was 27% higher than in the same period last year, reflecting higher EBITDA (earnings before taxes, interest, depreciation and amortization) and efficient management of working capital.
For the first half of 2014, prices for rough diamonds rose by 8%. In the medium and long term, there is a significant increase in demand for diamonds, especially in India and China, due to the growth in disposable income and spending on luxury goods.
The production of raw diamonds in the first half of the year increased by 2% compared to the same period last year. It is reported that high production figures at the Diavik mine made it possible to compensate for a significant decline in production volumes in the Argyle project, caused by the transition to underground mining and processing of tailings of low-grade rock during the first quarter, when the capacity of underground mining increased .

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Posted By Blogger to Wedding Pearl Jewelry | Bridal Pearl Necklace at 4/15/2018 09:35:00 AM

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The LVMH group reported revenue growth of 3% year-on-year to $ 18.9 billion (€ 14 billion) for the first half of 2014, while the group's revenue decreased 4% to $ 2 billion (€ 1.51 billion) , reports Rapaport. Sales in comparable stores of the LVMH group showed an increase of 5%.
The retailer observed the high stability of sales of luxury goods in Europe and continued growth in Asia and the US.
Sales of jewelry and watchmaking divisions of LVMH declined by 1% year-on-year to $ 1.7 billion (€ 1.266 billion), while sales in comparable stores grew by 3%. Operating profit in the jewelry sector fell sharply by 31% to $ 144 million (€ 107 million).
The company announced that economic uncertainty forced multibrand retailers to be cautious about replenishing stocks. Sales results in own boutiques belonging to LVMH brands were very good.
Bulgari brand won from positive dynamics in the jewelry market; brand TAG Heuer focused on the development of its legendary watch lines. The decrease in profit is due to the negative effect of exchange rate differences.
LVMH CEO Bernard Arnault said: "The results of the first half of the year demonstrate the sustainability of LVMH and the strength of its brands, as well as the group's ability to respond to changes in the economic environment and financial uncertainty."

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In June 2014 Swiss watch exports increased 1.4% on a year-on-year basis, to $ 2,065 billion (1.863 billion Swiss francs), according to the Federation of the Swiss Watch Industry. The growth of exports provided sales of watches made of precious metals, Rapaport reports.
The export of watches grew by 1.2% to $ 1.952 billion (1.761 billion Swiss francs) for the month, while exports increased by 4.8% in terms of the number of products. The export value of other watch products showed an increase of 9.2% to $ 50.6 million (45.6 million Swiss francs).
The Federation explained that half of the 30 main markets for Swiss watches showed a negative trend, but generally positive trends prevailed.
The export of Swiss watch products to Hong Kong in June fell by 2.2% to $ 359.8 million (324.5 million Swiss francs), while exports to the US fell 0.5% to $ 206.3 million (186 million Swiss francs).
The export of watches to Italy increased by 14.5% to $ 132.8 million (119.8 million Swiss francs), while exports to Japan continued the trend last month and increased by 20.4% to $ 130.6 million (117, 8 million Swiss francs).
The export of Swiss watches to China fell by 6.8% to $ 128.5 million (115.9 million Swiss francs).
Exports to Germany fell by 1% to $ 114.3 million (103.1 million Swiss francs).
According to the results of the first half of 2014, the total Swiss watch exports increased by 3% on a year-on-year basis and amounted to $ 11.678 billion (10.532 billion Swiss francs), while the number of watches sold was 13.128 million units, an increase of 0.8%.

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Petra Diamonds announced that its diamond production increased by 17% to 3.1 million carats in the 2014 financial year ending June 30, compared to 2.7 million carats in diamonds from the same period last fiscal year.
The increase in production is due to improved production performance at the Finsch mines, Williamson, Koffiefontein mines and Kimberley underground mines.
The company's diamond output exceeded the expected market share of 3 million carats.
Petra notes that diamond production could exceed 3.1 million carats in the case of a more successful operation of the Cullinan and Helam mines.
The diamond output of the Cullinan project declined 5% to 823,619 carats during the year, compared with 868,975 carats of diamonds, a year earlier, due to a decrease in the average diamond content of up to 27.8 carats per hundred tons.
During the reporting period, 35,148 carats of diamonds were extracted at the Helam mine, 32% less than in the previous financial year (52,011 carats).
Meanwhile, Petra's revenue for the fiscal year 2014 jumped 17% to $ 472.6 million from $ 402.7 million, a year earlier.
The sales volume showed an increase of 23% to 3.1 million carats compared to 2.5 million carats sold in the previous year, which corresponds to the trend of production growth.