LONDON — Profits and sales at De Beers SA, a division of Anglo American, saw double-digit declines in 2012 in what the company described as a year of "challenging" trading conditions, with tough comparisons against the previous 12-month period.
De Beers, which was fully acquired by the mining giant Anglo American last year, said Friday that underlying profits fell 49 percent to $506 million. The figure refers to profit for the financial year attributable to equity shareholders and before special items and adjustments. De Beers did not break out net profit for the 12-month period.
Revenues fell 16.4 percent to $6.07 billion, with sales of rough diamonds decreasing 15.4 percent to $5.5 billion due to diminished demand, changing product requirements from Sightholders (De Beers' preferred wholesale clients) and reduced availability of some goods.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)