Last week, Gemfields reported a very strong first half, with EBITDA OF $43.5m and PAT of $23.8m. This led to strong free cash generation (June net cash $28.7m), which Gemfields should add to in the Q4 auctions and support growth capex and a potential dividend payment in FY22.
We have raised our FY21 revenue forecast from US$161m to $203m. Having previously been concerned that COVID would affect the second half auctions, the success of August’s emerald auction, alongside strong outlook statemen ....
27 Sep 2021
Gemfields - Strong interims and upgrade
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Gemfields - Strong interims and upgrade
Gemfields Group Limited (GEM:LON) | 11.8 0 1.1% | Mkt Cap: 137.1m
- Published:
27 Sep 2021 -
Author:
Cavendish Research -
Pages:
4
Last week, Gemfields reported a very strong first half, with EBITDA OF $43.5m and PAT of $23.8m. This led to strong free cash generation (June net cash $28.7m), which Gemfields should add to in the Q4 auctions and support growth capex and a potential dividend payment in FY22.
We have raised our FY21 revenue forecast from US$161m to $203m. Having previously been concerned that COVID would affect the second half auctions, the success of August’s emerald auction, alongside strong outlook statemen ....