De Beers reports profit rise of 33%


Over the past year, De Beers’ profits increased by more than 33 per cent and operating profits over the fiscal year 2014 grew to $1.4 billion. According to a statement from majority owner Anglo American, De Beers’ revenue improved by 11 per cent to reach $7.1 billion, of which more than 90 per cent came from rough diamond sales that also grew by 12 per cent to $6.5 billion.

CEO of Anglo American, Mark Cutifani, says that De Beers makes up for 28 per cent of the company’s profits, making it the second largest contributor for Anglo American. According to De Beers CEO Philippe Mellier, “the selling season around Christmas was a little below what we were expecting” but that sales in the United States were strong for more of the year. CJ