Desmond-backed Mountain Province Diamonds claims it is turning corner

The company announced that it had made CAN$156 million in sales in the first half of 2019, compared with $165 million the year before

Barry J Whyte

Chief Feature Writer @whytebarry
11th August, 2019
Dermot Desmond: key backer of diamonds firm

Mountain Province Diamonds - the Canadian diamond company backed by Dermot Desmond - might be turning a corner, it claimed last week.

The company announced that it had made CAN$156 million in sales in the first half of 2019, compared with $165 million the year before, while its earnings before tax fell 21 per cent from $74.7 million in 2018 to $58.8 million.

That performance was largely due to “continued pressure on prices” for its smaller, cheaper categories of diamonds, it...

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