2003 Proved to Treat Alrosa Well As Net Income Surges

Russian diamond miner and exporter Alrosa has good reason to smile. Initial reports indicate that the company had a great fiscal year in 2003, reporting a net income of 9.663 billion rubles ($334.5 million).

The results represent a 50 percent jump in net income, reports the Russian RosBusinessConsulting news site. The company was aiming to increase income to 7.72 billion rubles.

Alrosa’s total revenue for 2003 stands at 56.752 billion rubles.

Following the good results the company is saying it is setting its sights on net income of 9.88 billion rubles for fiscal 2004.