Diamond Sorting

ALROSA: STRONG MARKET WILL DELIVER STRONG DIAMOND SALES IN H1

Alrosa’s CEO, Sergey Ivanov, told Reuters on the sidelines of the St. Petersburg economic forum that the diamond miner is expecting “a significantly higher-than-expected sales total for the first half of this year due to a strong market”, according to Gem Konnect.

 

Ivanov said that Alrosa has had “very good sales” in the first four months of the year, and that he expects a drop in sales in May as compared to April due to seasonal factors. Ivanov added that “this year’s annual sales were expected to be good, with prices already having risen several percent since the beginning of the year”.

 

Earlier this month, Alrosa announced its financial results for the 1st quarter of the year, showing that revenue grew 58% quarter-on-quarter to RUB 96 billion ($1.54 billion). Pre-tax profits grew 78% quarter-on-quarter to RUB 48 billion ($769 million). Earnings for the period totaled RUB 33.2 billion ($532 million) – double the earnings quarter-on-quarter. Ivanov then commented that “Alrosa’s excellent financial performance in Q1 2018 is largely due to improved market conditions, which we were able to fully benefit from, and stringent cost control”.

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