Alrosa group produces 19.2 mln carats in diamonds in H1
MOSCOW. Aug 25 (Interfax) - The Alrosa group, which aside from OJSC AK Alrosa includes OJSC Alrosa-Nyurba , OJSC Almazy Anabara, and OJSC Severalmaz, mined 19.326 million carat-weight of diamonds in the first half of this year, 10% more than in H1 2010.
A statement from Alrosa , Russia's diamond monopoly, says management has approved the combined budget for the period, and that the group's net profits to Russian Accounting Standards (RAS) amounted to 21.916 billion rubles for January-June. That was 310% more year-on-year.
The company's sales of raw and cut diamonds came to $2.2 billion, which was a 7.5% year-on-year increase.
The group's sales went up by 3.2% year-on-year to 71.157 billion rubles in the first half.
The company's costs of production and sales came to 33.831 billion rubles, which was under the plan for the first half by 1.371 billion rubles
Alrosa's net profit according to Russian accounting standards (RAS) increased by 450% year-on-year to 16.396 billion rubles in the first half. The company's sales revenue went down by 2% to 52.445 billion rubles.
Alrosa is the world's leading diamond producer in terms of total carat accounting for around 25% of world output. The company increased diamond output by 5% last year to 34.336 million carat. Based on forecast development of the world diamond market, the company plans to sell around $4.7 billion in diamonds this year with production at 34.438 million carat.