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Alrosa Sales Rebound to $472M in May
Jun 11, 2017 9:18 AM
By Rapaport News
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RAPAPORT... Alrosa’s diamond revenues for May jumped 33% year on year to $472.1 million, the Russian miner reported last week.
Rough-diamond sales amounted to $467.6 million
for the month, while polished revenue was $4.5 million. For the January-to-May
period, sales fell 5% to at least $2.13 billion, of which $2.09 billion was
from its rough business and $44.3 million was from polished.
Alrosa vice president Yury Okoemov attributed the decline in
overall sales to a higher proportion of lower-value goods during the beginning
of the year. Between January and April, revenue slid 12.5% to $1.7 billion as the
company sold off those diamonds, following a period of lower demand in November
and December due to India’s demonetization policy.
The announcement came after De Beers reported rough-demand
sales of $520 million in May — 18% lower than the equivalent sight a year ago.
De Beers’ sales in the first four sights of the year declined 3% to $2.39
billion, according to Rapaport records. |
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Tags:
Alrosa, De Beers, Rapaport News, Rough Diamonds, Russia
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