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Johannesburg - Alluvial diamond miner Rockwell Diamonds [JSE:RDI] on Friday reported a net profit for the second quarter of its financial year, proving that a turnaround was underway.
The company reported a net profit of C$2.0m for the three months to end August after posting a net loss of C$1.2m in the three months to end May, its first quarter.
The second quarter profit reflects an improvement of C$9.1m from the comparable quarter last year.
Rockwell Diamonds president and CEO James Campbell said profit improvement was underpinned by strong cash flows from operations.
The company reported a net profit of C$2.0m for the three months to end August after posting a net loss of C$1.2m in the three months to end May, its first quarter.
The second quarter profit reflects an improvement of C$9.1m from the comparable quarter last year.
Rockwell Diamonds president and CEO James Campbell said profit improvement was underpinned by strong cash flows from operations.
