Gemfields flags return to profit as auctions go online
The group went online to sell emeralds and rubies in 2020, successfully continuing with this format in its half year to end-June
Ruby and emerald miner Gemfields, which also owns Fabergé, has flagged a return to profit for its half-year ending June, having successfully gone online to sell its stones.
The group expects a profit after tax of $23.8m (R346m) to end-June, from a R959m loss previously, with the group hit hard in 2020 by travel restrictions, which disrupted viewing of the stones. That prompted the group to develop a system of online mini auctions, a format the group said had remained successful in 2021...