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ALROSA SELLS LESS DIAMONDS, REVENUE DOWN IN Q1 2019

Alrosa's revenue fell 27% year-on-year to $1.1 billion in Q1
Alrosa gem diamond Russia
Credit: Alrosa

Russian diamond mining giant Alrosa has reported its first quarter results, showing that its revenue fell 27% year-on-year to $1.1 billion (RUB 70 billion), according to Gem Koonect. Net earnings fell 27% year-on-year to $373 million (RUB 24.1 billion).

 

alrosa rough diamonds russia
Credit: Alrosa

 

Alrosa sold 10.6 million carats of rough diamonds during the period – 21% less than in Q1 2018. Alrosa Deputy CEO Alexey Philippovskiy commented: “Following a sizeable de-stocking of small-size rough diamonds by cutters and polishers in the second half of 2018, we saw an improved demand for this product early in 2019”.

 

diamond mining trucks Russia
Credit: Alrosa

 

In April, Alrosa’s sales of rough and polished diamonds reached $318.7 million – rough diamond sales amounted to $315.8 million, while sales for polished diamonds totaled $2.9 million. In January-April 2019, rough and polished diamond sales totaled $1.322 billion. Sales of rough amounted to $1.3 billion, while polished sales totaled $19.2 million.



Tags: Diamonds News, Diamond Industry News, Alrosa News, Diamond Prices News

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