Alrosa boosts RAS earnings four-fold in 2011 to 29.54 bln rubles
MOSCOW. March 15 (Interfax) - Alrosa boosted net profit to Russian Accounting Standards (RAS) 3.9-fold in 2011 to 29.519 billion rubles, the diamond miner said in a statement.
Sales revenue rose 22% to 117.783 billion rubles.
Alrosa's RAS statement is unconsolidated and does not include subsidiaries, the largest of which are Alrosa Nyurba , Almazy Anabara and Severalmaz .
Alrosa financial highlights in 2010-2011, '000 RUB:
| 2011 | 2010 | Change | |
| Sales | 117 783 576 | 96 820 391 | 21.65% |
| Cost of sales | (48 031 506) | (50 099 091) | |
| Gross profit | 69 752 070 | 46 721 300 | 49.3% |
| Operating profit | 52 553 947 | 33 906 248 | 55% |
| Pretax profit | 35 562 416 | 11 632 429 | 3-fold |
| Net profit | 29 519 001 | 7 543 486 | 3.9-fold |
Sales of rough diamonds jumped 34% to 95.567 billion rubles in 2011, and sales of cut diamonds rose 21% to 5.438 billion rubles. Rough diamonds generated 73.7% of sales revenue.
Mining costs edged up to 25.156 billion rubles, or 52% of cost of goods sold, from 24.351 billion rubles a year earlier.
Alrosa's short-term payables rose 46% to 10.127 billion rubles in 2011.
The company paid 617 million rubles in remuneration to members of its management board in 2011, up from 308 million rubles in 2010. Remuneration for supervisory board members totalled 8.336 million rubles (not paid in 2010).
The Alrosa group produced about 34.438 million carats of rough diamonds in 2011. The group plans to increase revenue to $5.074 billion in 2012 from about $4.424 billion in 2011.
