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The State Diamond Trader

The State Diamond Trader. Annual Report 2009/ 10. Achievements. Implementation of Interim Sales Strategy Improved stock turnaround time, increased revenue and reduced interest payable Average stock turn around period decreased Year end rough diamond stock was nil

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The State Diamond Trader

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  1. The State Diamond Trader Annual Report 2009/ 10

  2. Achievements • Implementation of Interim Sales Strategy • Improved stock turnaround time, increased revenue and reduced interest payable • Average stock turn around period decreased • Year end rough diamond stock was nil • No interest was payable on trading loans • Improved gross margin • Increase from R1.8 million to R12.8 million (1% to 4%) • Consistent trading and better revenue • Purchases and sales up 3 fold from previous year • Increased participation of HDSAs in local diamond beneficiation • Decreased sales to clients with no HDSA ownership

  3. Interim Sales Strategy In response to economic crises, implementation of the Interim Sales Strategy to ensure commercial viability. Impact: • eliminated finance costs • eliminated accumulation of stock • improvement in revenue and gross margin • ability to accumulate capital as a result of the profits achieved

  4. Inspections

  5. Purchases

  6. Sales

  7. Sales by HDSA ownership

  8. Sales by Client Segment

  9. Accounting Authority SDT had: • Board with 14 members • 4 Committees being – EXCO, Trading, Finance and Audit & Risk Management The Board and its committees met at set intervals during and provided strategic leadership during the year characterised by difficult trading conditions

  10. Human Resource Capacity SDT continued to have: • Its acting CEO and Company Secretary seconded by the DMR; • 5 members of staff seconded by De Beers; • 4 members of staff employed on contract; • A consultant CFO

  11. Auditor-General Report AG audit and report: • An audit was conducted between April and July 2010 for year under review; • AG report was issued in July 2010; • AG report indicates compliance.

  12. The State Diamond Trader Thank-you

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