ALROSA saw 4% decline in profit under RAS in the first half of 2012

In the first half of 2012, ALROSA posted a net profit slump of 4.4% earning 15.824 billion rubles compared to 16.558 billion rubles gained in the similar period of 2011, PRIME reported citing the company’s financial statement under the Russian Accounting Standards (RAS).
ALROSA’s revenue in the reporting period increased by 26.6% to 66.418 billion rubles compared to 52.445 billion rubles one year ago, whereas prime cost went up 30.2% to 27.178 billion rubles year on year.
The diamond miner’s gross income increased by 24.3% to 39.24 billion rubles and sales profit by 20.7% to 28.202 billion rubles. Profit before tax for the first half of 2012 decreased by 1.3% to 20.921 billion rubles.
ALROSA reported that accounts payable for the first half of 2012 grew to 15.265 billion rubles (as of 30 June, 2012) compared to 10.127 billion rubles at the end of 2011. Meanwhile, its accounts receivable increased from 10.472 billion rubles to 18.381 billion rubles.
ALROSA is the largest diamond mining company in Russia and it accounts for approximately 30% of the global diamond output.
In 2011, the operations of the ALROSA Group produced a total of 34.6 million carats of diamonds. The Group’s diamond sales in 2011 reached $4.45 billion, net profit jumped 3.9 times to 29.5 billion rubles year-on-year on the backdrop of a 21.7% increase in revenues which reached 117.8 billion rubles.