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Diamond sales sparkle as Alrosa boosts 1H 2011 net profit to 26.267 billion roubles

Diamond sales sparkle as Alrosa boosts 1H 2011 net profit to 26.267 billion roubles
Russian diamond producer, Alrosa, has posted a 1H 2011 net profit of 26.267 billion roubles under IFRS.

The net result is a massive jump from the 1H 2010 net income of 5.015 billion roubles, with 1H adjusted EBITDA up 74.2% year on year to 35.867 billion roubles, with EBITDA margin up to a record 54%, as sales revenues climbed to 66.147 billion roubles from 64.392 billion roubles a year earlier.The company attributed the results to increased diamond sales with production expenses up 5%, while the production increased 10%.  Corporate debt fell by 11.8% to 99.302 billion roubles as operation efficiency rose.

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