WINDHOEK, NOV 1 – Namib Desert Diamonds (Pty) Ltd (NAMDIA) recently announced a N$ 40 million dividend declaration to its shareholder, the Government of the Republic of Namibia, after considering the results for the 2020/2021 financial year.
In addition, for the period under review 2020-2021 6 sales totaling 144,967 carats for an average of USD 494.75
per carat were recorded while the full year group profit after tax amounted to N$13.3 million, down 86.0% from the prior
year’s N$95.2 million.
“Rough diamond sales were adversely affected by lockdowns and travel restrictions due to COVID-19 pandemic, delaying the shipping of rough diamonds into cutting and trading centres and preventing buyers from attending sales events. This resulted in reduced rough diamond demand which led to declines in sales volume and softening of prices,” according to Public Relations Office of Namib Desert Diamonds (Pty) Ltd Beverley Coussement.
Moreover, an extraordinary impairment provision of N$30.9 million was raised on the acquisition of NamGem Diamond Manufacturing Company (Pty) Ltd. Before considering the impairment provision of N$30.9 million, the profit after tax amounts to N$44.2 million.
The ordinary profit before tax of NAMDIA amounts to N$73.7 million, down from N$ 150.2 million in the previous financial year, down by 51%. NAMDIA paid the Ministry of Finance during the period under review, N$43.5 million
comprised of N$32.2 million in income tax and N$11.3 million in export levy. – email@example.com