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February 11, 2008
De Beers 2007 Sales, Profit Loses Some Sparkle
Diamond giant De Beers experienced a 2.8% drop in sales last year to $7 billion while profits slid 7.1% to $486 million. The company said that production levels were flat with 2006 at 51.1 million carats.
There was little increase in demand for diamonds in the U.S, although independent high-end jewelry stores performed better than most, the company said. De Beers saw a greater increase in demand in China, the Middle East and India.
Posted by Blacks on February 11, 2008 09:17 AM
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