Alrosa Q1 Net Profits $98.38 Million
May 01, 05
Alrosa's first quarter net profit fell 9.4 percent to 2.733 billion rubles ($98.38 million), the Russian diamond firm reported, according to local press.
The company attributed the fall in profitability mainly to exchange-rate factors. Alrosa’s net profit goal for the year is 13.2097 billion rubles ($475.5 million).
In other news, following reports that the Russian government is planning to increase its share in the diamond monopoly, several hundred people staged a protest in
The crowed, planning to continue their protest until today (Sunday), scattered after a speeding dump-truck nearly ran into the crowd.
Last week, the Russian daily Kommersant reported that the Russian Economy Ministry had instructed the Federal Property Agency to “prepare a procedure” for the government to increase its share in Alrosa in a bid to increase its control over the company.