Gemfields reports hefty loss as Covid-19 hits auctions
The precious stones and jewellery group reported a R959m net loss for its six months to end-June, also writing down Fabergé
18 September 2020 - 10:02
Precious-stones group Gemfields, the owner of Fabergé, has posted an interim net loss of almost two thirds its market capitalisation, after Covid-19 cancelled auctions and hit demand.
The group has only held one gemstone auction so far in 2020, while auctions originally scheduled for May, June and August have been cancelled...
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