07:27 AM EDT, 08/12/2024 (MT Newswires) -- Lucara Diamond ( LUCRF ) over the weekend said second-quarter profit doubled as revenue rose.

The diamond miner, with operations in Botswana, said net income doubled to US$11.9 million, or US$0.03 per share, from US$6.1 million, or US$0.01 per share, last year.

Revenue rose to US$41.3 million, from US$38.6 million. The company sold 76,387 carats, compared with 72,717 carats in the prior year period.

Lucara confirmed its 2024 guidance of US$220 million to US$250 million revenue and sales of 345,000 to 375,000 carats. It added that the long-term outlook for natural diamond prices remains positive, however, the market for smaller size stones remains soft as demand is impacted by a weak Asian market and laboratory-grown diamonds.