NAMDEB is on top of its game again, having turned a net loss of N$414 million in 2009 around to a net profit of N$419 million last year. The diamond giant also has a few aces up its sleeve to ensure that it continues to mine around one million gems until 2050, Namdeb managing director, Inge Zaamwani-Kamwi, said on Wednesday. Zaamwani-Kamwi contributed the turnaround in 2010 to a recovery in the global market, as well as the tough decisions taken by Namdeb during the world financial crisis to run a ?lean and mean? company. The sparkling financials will see just over N$1 billion flowing into state coffers as taxes, while the board is deciding on how much dividends to pay to shareholders De Beers and the Government, Zaamwani-Kamwi said.
EXT Price at posting:
$6.68 Sentiment: Buy Disclosure: Held
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