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 $20.1m loss the year before.
Gemfields boss Ian Harebottle told City A.M: “Our marketing to build the brand has been a key driver of value, and I believe we are now the global coloured gemstone champion.”
Gemfields last week said it would pursue sapphires in Sri Lanka, and is mulling expansion in Colombia.
Update: This article has been updated to clarify that Gemfields' profit figures are in US$.