The De Beers Group reported today that full-year sales dropped 3 percent in 2007, from $7.030 billion in 2006 to 6.836 billion, crediting most of the loss to a lower availability of goods from Russia. EBITDA remained steady at $1.216 billion, as effective cost management at the Group's African mining operations offset the impact of slightly lower sales that were constrained by supply to the Diamond Trading Co. (DTC). Underlying earnings were $483 million, up from $425 million in 2006.

Read Full Story