LVMH Sees Strong Jewelry and Watch Growth

LVMH Moët Hennessy Louis Vuitton’s revenue from jewelry and watches increased 8% year on year to $1.12 billion (EUR 951 million) in the third quarter.

Overall group revenue jumped 14% to $12.26 billion (EUR 10.38 billion) during the period, the luxury-product company reported Tuesday.

The company noted a “remarkable performance” at Bulgari thanks in particular to the rapid growth of its signature jewelry collections Serpenti, Diva and B.Zero1. It also listed the launch of the new Festa high-end jewelry line as a highlight for the quarter, while the Chaumet and Fred brands also contributed to the overall positive performance. In watches, TAG Heuer and Hublot continued to grow, LVMH said.

In the first nine months of the year, jewelry and watch revenue grew 12% compared to the same period in 2016, hitting $3.29 billion (EUR 2.79 billion), while group revenue increased 14% to $33.5 billion (EUR 30.1 billion).

HALF YEAR 2017 RESULTS

Gem Diamonds Limited (LSE: GEMD) (Gem Diamonds, the Company or the Group) today announces its half-year results for the six months ended 30 June 2017 (H1 2017 or the Period).

FINANCIAL RESULTS:
Revenue US$92.9 million (US$109.1 million in H1 2016)
Underlying EBITDA US$13.0 million (US$43.5 million in H1 2016)

Attributable net profit, before exceptional items US$49k (US$13.4 million attributable net profit, before exceptional items, in H1 2016)
Basic earnings per share 0.04 US cents before exceptional items (Basic earnings per share 9.70 US cents before exceptional items in H1 2016)

Cash on hand US$20.0 million

OPERATIONAL RESULTS:

LETŠENG
Waste tonnes mined of 15.0 million (15.3 million tonnes in H1 2016)
Ore treated of 3.2 million (3.3 million tonnes in H1 2016)
Carats recovered of 50 478 (57 380 carats in H1 2016)
Grade recovered of 1.59cpht (1.72cpht in H1 2016)
Rough tender revenue of US$88.8 million (US$106.2 million in H1 2016)
Average price of US$ 1 779 per carat achieved (US$1 899 per carat in H1 2016)
Recovered four diamonds greater than 100 carats GHAGHOO

Operation placed on Care and Maintenance on 31 March 2017

Commenting on the results today, Clifford Elphick, Chief Executive of Gem Diamonds, said:

“The improvement in the greater than 100 carat diamond recoveries at Letšeng is encouraging with the US$ per carat achieved trending positively at US$1 779, up 20% from US$1 480 in H2 2016. The latest sale in July achieved US$2 385 per carat. The updated life of mine plan was implemented during the Period with the objective of reducing waste tonnes mined and improve near term cash flows, and mining progressed well against this plan during the Period.

At Ghaghoo, the mine was successfully placed on care and maintenance during the Period which will result in further cost optimisation during the remainder of the year. Shareholders are advised that an offer to acquire 100% of the Ghaghoo asset has been received and the Board is considering the offer.

The cost reduction and transformation programme is firmly underway and at this early stage US$15 million of annualised efficiency and cost reduction initiatives have already been identified for implementation from October 2017.”

The Company will host a live audio webcast presentation of the half year results today, 17 August 2017, at 09:30 BST. This can be viewed on the Company’s website:www.gemdiamonds.com

This announcement contains inside information for the purpose of Article 7 of Regulation (EU) No596/2014.
The Gem Diamonds Limited LEI number is 213800RC2PGGMZQG8L67.

DIAMOND OFFSHORE TO RELEASE THIRD QUARTER 2017 RESULTS ON OCTOBER 30

HOUSTON, Oct. 10, 2017
— Diamond Offshore Drilling, Inc. (NYSE: DO) announced today that it will issue a press release and host a conference call and webcast related to its third quarter 2017 operating results on Monday, October 30, 2017. The conference call and webcast will begin at 7:30 a.m. CDT and will include a discussion by management regarding the Company’s results of operation.

The news release and a live webcast of the conference call will be available online at the Company’s website, www.diamondoffshore.com. The dial-in number to participate in the conference call is 844-492-6043. Those individuals calling from international locations may participate by dialing 478-219-0839. The conference ID number is 95338408.

A replay of the call will be available at www.diamondoffshore.com.

ABOUT DIAMOND OFFSHORE
Diamond Offshore is a leader in offshore drilling, providing contract drilling services to the energy industry around the globe. Additional information and access to the Company’s SEC filings are available at www.diamondoffshore.com. Diamond Offshore is owned 53% by Loews Corporation (NYSE: L).