THE DIAMOND PAGE — Earnings, dividends rise for De Beers

South African diamond mining group De Beers increased its earnings and dividends in 1995.

De Beers Consolidated Mines and De Beers Centenary recorded a combined 11% increase in attributable earnings for the year. The year-end figure was US$624 million, or US$1.64 per De Beers/Centenary linked unit.

Including the share of retained earnings of associates, combined earnings were 18% higher, at US$986 million.

The year’s dividends declared by De Beers rose 10%, to US92 cents per linked unit.

The combined diamond account increased by 21%, to US$760 million.

Income before taxation was US$836 million, compared with the 1994 total of US$700 million, representing a 19% increase.

In a release, the directors of De Beers commented that the rough diamond market had begun 1996 in a confident mood. They mentioned that a combination of factors contributed to the group’s performance, including: price changes; the absence of outside rough diamonds; retail sales; and recent arrangements between the Central Selling Organization and the Russian government.