The world’s largest diamond miner by volume has had a very good year: Russia miner Alrosa has announced the results for 2016 IFRS (International Financial Reporting Standards), showing a 41% jump in revenue to 317.1 billion rubles ($5.4 billion).
Meanwhile, Alrosa’s net income quadrupled to 133.5 billion rubles ($2.25 billion). The company’s free cash flow surged threefold to 111.4 billion rubles ($1.9 billion).
Alrosa’s Chief Financial Officer Igor Kulichik said: “2016 was a year of active recovery in the diamond market following the decline of 2015. The Company managed to deliver record-high financial performance and generate net cash flow sufficient to repay short-term and medium-term liabilities and pay out dividends to shareholders”.
