News Flash

Aber Diamond declares Q4 result & production prices

15 Mar '06

4 min read

Aber Diamond Corporation announces its fourth quarter and year-end results for the periods ended January 31, 2006.

Commenting on Aber's results, Chairman and Chief Executive Officer Robert Gannicott stated, "The last financial year has been a rewarding one for Aber and its shareholders as sales volumes, prices and earnings have increased in both segments of its diamond businesses. The whole has indeed been shown to be worth more than the sum of its parts in this unique business model.

The Aber - Harry Winston team has demonstrated the economic synergy between jeweler and rough diamond marketer. We now have the opportunity to capitalize on that synergy in a market place that is expected to increasingly demand the high quality rough diamond and jewelry products that Aber supplies and understands."

Thomas O'Neill, President of Aber and Chief Executive Officer of Harry Winston added, "Harry Winston has once again shown double-digit growth in annual sales and strengthened margins in line with the plan we laid out when we acquired the company in April 2004. These gains are the result of the refinements we made to our product mix and improvements in sourcing, purchasing and manufacturing, along with strong performance in our core markets of the U.S. and the Far East.

By combining financial capital and management expertise, Harry Winston is strengthening its position as the pre-eminent purveyor of fine diamond focused jewelry while growing a moreaccessible high-end diamond jewelry brand in order to deliver long-term value to our shareholders."

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