Jeweller De Beers posted a strong performance last year, identifying China and India as its key growth markets.

De Beers grew an estimated 30 per cent year on year sales in China where it opened stores in Hong Kong, Dalian, Beijing and Tianjian last year. In India, sales grew 10 to 15 per cent over the same period, according to CEO Philippe Mellier.

De Beers disclosed further expansions are planned for these markets this year.

A strong performance was also experienced by De Beers in the US, its largest diamond jewellery market, where its sales rose about eight per cent.

Overall, sales increased by 26 per cent while pre-tax profits grew 37 per cent.

However, despite its record year in 2011, De Beers views 2012 with uncertainty due to the European financial crisis.

“The only thing I know about the outlook is that it’s going to be uncertain – I see more uncertainty now and in the first part of the year than the second part because a lot of (it) is linked to the European crisis,” Mellier said.

“We will have solid retail demand (but) I don’t think we will enjoy such a huge growth as we had in 2011.”

Due to the softening demand, De Beers reduced production during the fourth quarter, which Millier said will continue for the first few months of this year.

GB