Gem Diamonds shares fall 18% as revenue slumps and impairment charges push it to $104m loss

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Wed, March 18, 2026 astatine 5:00 AM CDT 1 min read

Gem Diamonds shares autumn 18% arsenic gross slumps and impairment charges propulsion it to $104m loss

Shares successful Gem Diamonds Limited (LSE:GEMD, OTC:GMDMF)) fell 18% to 3.78p connected Wednesday aft the institution reported a $104 cardinal attributable nonaccomplishment for 2025, driven by a $77.5 cardinal writedown of the carrying worth of its Letšeng excavation successful Lesotho.

Revenue fell to $98.4 cardinal from $154.2 cardinal successful 2025, portion underlying EBITDA (earnings earlier interest, tax, depreciation and amortisation) collapsed to $3.9 cardinal from $29.7 million.

The mean worth achieved per carat fell to $1,105 from $1,390, reflecting prolonged weakness successful the unsmooth diamond marketplace and an unfavourable speech complaint betwixt the US dollar and the Lesotho loti.

Net indebtedness roseate to $20.1 cardinal from $7.3 cardinal astatine the extremity of 2024.

The deteriorating results prompted Gem Diamonds to motorboat a Business Resilience Programme successful the 2nd fractional of 2025.

The institution said renewing its radical lending facilities, which expire successful December 2026, remained a priority.

Chief enforcement Clifford Elphick said the measures taken had amended positioned the radical to payment erstwhile marketplace conditions improved.

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