Petra Diamonds Ltd. (PDL.L) Tuesday posted a first-half loss of $26.7 million, or a loss of 5.23 cents per share, compared to last year's profit of $24.5 million, or 6.48 cents per share. Adjusted earnings were $11.8 million, or 2.46 cents per share, this year and $3.6 million, or 0.86 cents per share, a year ago.
Revenue for the six-months climbed 13 percent to $101.4 million from the prior-year's $90.0 million. Production surged 64 percent to 953.6 carats from 582.1 carats in 2010. The company noted that rough diamond prices weakened from July 2011, dampening the revenue growth.
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