ALROSA 2015 Revenue +8%
March 17, 16
(IDEX Online News) – Russian miner ALROSA, the world’s largest diamond producer by volume, has announced that its 2015 revenue reached RUB224.5 billion ($3.24 billion) – an 8-percent year-on-year increase.
The company acknowledged that sales volume suffered a 24-percent year-over-year decline, but a favorable foreign exchange environment contributed to strong financial results. Net income totaled RUB32.2 billon as compared to net losses of RUB16.8 billion in 2014.
“After a decline in rough diamond market activity in 2H 2015, we note signs of recovering market demand for the Company’s main products,” said ALROSA CEO Andrey Zharkov. “ALROSA’s strong FY 2015 financial results were supported by both sales favorable FX market environment and the company’s cost control initiatives.”