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ALROSA 1Q Sales +5%

Apr 10, 2012 2:25 AM   By Avi Krawitz
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RAPAPORT... ALROSA reported that its sales of rough and polished diamonds rose 5 percent year on ‎year to $1 billion in the first quarter of 2012.‎

‎ALROSA observed moderate growth of rough diamond prices and the company is ‎expecting that trend to continue in the second quarter.  ‎

Rising demand for polished diamonds in China, India, and the U.S. coupled with a  decrease in rough diamond production have been the main drivers of  price ‎increases in the global market, ALROSA explained. ‎

The company reported that its net profit rose 23 percent year on year to $282 million (RUB 8.36 ‎billion). ‎

Earlier, ALROSA reported that sales in 2011 rose 28 percent to $4.45 billion.‎
Tags: Alrosa, Avi Krawitz, diamonds, Polished Diamonds, Rapaport, Rough Diamonds
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