The Namdeb Diamond Corporation announced a strong performance for the six months ending June 30, 2010, with increased sales and pre-tax profit and nearly double the amount of carats recovered than in the first half of 2009.

Namdeb recovered more than twice the carats of rough diamonds in the first half of 2010 than it did in H1 2009 – 795,000 compared to 385,000.

Namdeb Managing Director Inge Zaamwani-Kamwi said that while the company was encouraged by the increased demand for diamonds in the first half, the economic climate worldwide and in the diamond industry remained tenuous, particularly in important diamond markets in Europe, Japan, and the US. The company has completed most of its restocking, Zaamwani-Kamwi noted, and increased consumer confidence would determine further demand growth.

The diamond company posted a pre-tax profit of N$719 million, compared to a $685 million loss in the corresponding period last year and an increase in sales for the half from $1508 million in 2009 to $1839 million.

Profit after tax also improved, with Namdeb posting $259 million compared to the loss of $359 million after taxes in H1 2009. Taxes totaled $460 million, accounting for 64% of the profit before tax.

"We therefore look to the remainder of 2010 with measured optimism," Zaamwani-Kamwi stated.

Zaamwani-Kamwi called the company's environment "enabling," and said that it was driving empowerment, accountability, production and profitability. Not only was Namdeb unafraid of risk, she declared, the company was committed to producing value from its "world-class ore-body" through 2050 and beyond.