25 May 2022
DiamondWorld Directory
-
Home |
News
Home
TanzaniteOne reports 76% increase in revenues
Inventory levels reduce by 16%
By: Diamond World News Service
|
Sep 28 2010 11:56AM
|
Reference: 5352  

DecreaseIncrease

At the end of six months on June 30 2010, TanzaniteOne recorded revenues worth $8.6 million, rising by 76 percent. Profits valued $700,000 as compared to loss worth $500,000 in the same period last year. Its sales included 855,847 carats of rough gemstones sold in Dubai for $6.91 million, during the second quarter.

While last year’s first half saw gross margins improve 40 percent of sales, in the comparable period this year it was 66 percent of sales.

The company’s tanzanite production increased 21 percent to 1.049 million carats. The company ended the first half this year with $11.1 million in assets, including $3.94 million worth of inventory and cash and receivables. The period saw inventory levels of both rough and polished tanzanite decreasing by 16 percent as compared to the same period last year, indicating a rise in sales.

The ban on export of tanzanite larger than 5 carats continues to loom over Tanzania. Following this, the company is in talks with the government to develop cutting operations in Tanzania. It aims to ‘maximize sales of lighter stones into new markets through the cutting and marketing joint ventures and to build high margin business from cut high grade tanzanite’, as reports add.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Advertisement
DWWeeklypost
Search News by City
Advertisement
DWsubscription
Recent Issue
2022
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 30824
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 7818
GJEPC Chairman Interview
Views: 27026
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 37490
Promo for IJ Awards 2012 at NDTV Profit
Views: 51476
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 65108
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21000
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 49320
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 50600
Member of:
Supporter of: