No gem of a year for Namdia

Jo-Maré Duddy - Namib Desert diamonds (Namdia), government’s diamond marketing and sales company, reported total revenue of nearly N$1.96 billion for its 2019/20 financial year, about N$315.7 million or 13.9% less than in its previous book-year.
The commercial SOE recorded an operating profit of about N$140.1 million, some N$93 million or nearly 40% down from 2018/19.
Namdia ended its 2019/20 financial year with a profit after tax of N$95.2 million – a drop of N$66.7 million or 41% compared to its previous book-year.
Namdia decribed its performance as “relatively well”, “despite an extremely challenging year for the diamond industry”.