De Beers has announced its financial results for the first half of 2011, citing a 55% EBITDA increase over 2010. The earnings before interest, taxes, depreciation and amortization were recorded at $1.2 billion until June 30. These figures evidence price growth during the period.

The Diamond Trading Company sold $3.5 billion of rough diamonds in H1, including sales through joint ventures. This marks a 33% jump as compared to the same period of 2010, which has been attributed to 35% price growth. This increase is the highest sales figure the company has ever recorded for the first half of the year; it is partially ascribed to retail demand in Indian and Chinese markets, along with higher-than-expected demand in the United States.

De Beers has also reported 15.53 million carats recovered, which is in line with the 15.43 million carats recovered in the first half of 2010.

The company's free cash flow of $469 million is a 24% decrease from last year; it has been credited to the timing of stock purchases this year as compared to last year.

De Beers also remarked on three deaths in the company's operations, two at Namdeb and one at Debswana. The company pledged to continue its comprehensive safety reviews of all operations.

De Beers noted that its Forevermark brand was continuing expansion in the retail markets of China, Hong Kong and Japan, and that it had launched in India, Singapore and the Caribbean. Expansion is also planned for later this year in the US.

In addition, the company reported that Debswana's Jwaneng mine Cut-8 extension project was progressing on schedule and on budget.

The company's interim report also mentioned a recent management change: As of July 11, Philippe Mellier was appointed CEO of the De Beers Group. CFO Stuart Brown announced his resignation as of the end of July.