De Beers’ Diamond Company Is Losing Its Hold on Stock Market
2001: De Beers’ Diamond Company Is Selling Its Shares
De Beers’ earnings in the year 2000 increased by 87 percent to $1.3 billion — still, the company sees a slowdown in the year ahead, mostly because of the poor Christmas season last year in the United States.
Already, the first sight of the year 2001 is predicted to be 40% lower than last year’s — $470 million, compared with $790 million. De Beers has said this year’s sales are unlikely to match last year’s record levels.
The United States, which now accounts for 50% of the market, did post some growth overall, as did every other market besides Japan, according to a De Beers statement.
The best investment this year may have been De Beers shares — their stock, which may soon be removed from the market, has gone up 64% since the beginning of the year.