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Botswana Diamonds Gains from Weak Pound

Mar 29, 2017 10:43 AM   By Rapaport News
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RAPAPORT... Botswana Diamonds recorded a profit in the first half of the fiscal year, benefiting from a drop in the value of the British pound, the exploration company said this week.

Total comprehensive income stood at $75,799 (GBP 61,000) in the six months that ended December 31, 2016, compared with a loss of $340,472 (GBP 274,000) during the same period a year earlier.

The profit received a boost from a $244,792 (GBP 197,000) currency gain, as the Botswana pula appreciated 9% during the half-year against the British pound – the currency in which the miner reports.
Tags: Botswana, Botswana Diamonds, British pound, mining, Pound, pula, Rapaport News
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