Nothing substantial in the Union Budget 2013-14 for gem and jewellery industry, says Bachhraj Bamalwa, Chairman, GJF. But he expects the import duty to be reduced in the coming days.
In the first quarter that ended April 30, 2009, Harry Winston Diamond Corporation accounted a net loss worth $45.1 million net loss. During the same three months last year, the company had earned a net profit of $21.3 million. Also, there was a fall of 30 percent in the consolidated sales, which amounted to $109.6 million. Despite the snail paced growth in the economy being currently witnessed, the company believed that it has not helped uplift the slow retail and mining sales. As a result, the first quarter generated a net loss. %% According to the company reports, sales in the retail segment fell by 30 percent to $51.9 million, while the sales in mining dropped by 29 percent to $57.7 million.
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