We view Petra Diamonds (PDL) as the best pure-play diamond miner listed in London and the company's stellar financial results for the year ended 30 June reflect our confidence in the business. Production climbed 21 per cent to 2.67m carats, revenue soared 27 per cent to $403m (£258m), adjusted cash profits rose 36 per cent to $122m, and net profit after tax rose to $27.9m from a small net loss in the previous period.
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The sparkling figures were slightly tarnished by an announcement that strikes at a few South African mines impacted production for about two weeks in early September, but all miners are now back to work having agreed new contract terms.
