Gemfields sees glistening future as its revenues more than treble

Hollywood actress Mila Kunis has continued to be a global brand ambassador for Gemfields
Leading coloured gemstone supplier Gemfields revealed its revenues had more than tripled as it returned to profit in 2014, boosted by strong emerald and ruby sales.

Shares in Aim-listed Gemfields jumped over five per cent yesterday, as it said revenues rose to $160.1m (£97.9m) in the year to 30 June 2014, up from $48.4m in 2013. Gemfields, owner of Faberge, had pre-tax profits of $36.3m in 2014, up on a $20.1m loss the year before.

Gemfields boss Ian Harebottle told City A.M: “Our marketing to build the brand has been a key driver of value, and I believe we are now the global coloured gemstone champion.”

Gemfields last week said it would pursue sapphires in Sri Lanka, and is mulling expansion in Colombia.

Update: This article has been updated to clarify that Gemfields' profit figures are in US$.

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