Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

ALROSA's profit fell by 35% in H1 2023

14 august 2023

The net profit of the Russian diamond mining company ALROSA under IFRS decreased in the first half of 2023 to 55.57 billion rubles ($547 million), against 85.32 billion rubles ($836.5 million) in the same period a year earlier.

At the same time, the company's revenue in the reporting period increased slightly to 188.2 billion rubles, against 187.88 billion rubles in January-June 2022.

In the second quarter, ALROSA's net profit decreased by 25% to 27.07 billion rubles against 36.12 billion rubles a year earlier, while revenue increased by 8% to 92.51 billion rubles.

Profit from sales amounted to 57.9 billion rubles, which is 28% less than a year earlier.

ALROSA added that pressure of sanctions on the company's operations and increased market volatility are factors that could affect its business continuity in the future.

At the same time, ALROSA currently notes the stability of its operations even in the face of declining profits: "The group has no intention or need to significantly reduce the volume of operating activities. The Group considers its current liquidity position sufficient for sustainable operation."

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished