News

Advanced Search

Alrosa March Sales Beat Expectations

Apr 12, 2017 3:43 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
Alrosa saw steady demand for most categories of its rough diamond supply in March, pushing sales above its projected figures for the first quarter.

Sales grew 1% year on year to $566.6 million during the month, the company reported this week, with analysts at VTB Capital noting this was 12% higher than expected. Rough sales totaled $554.2 million, and polished sales closed at $12.4 million.

“In March, we continue to observe stable demand in almost all categories of rough diamonds, which is a confirmation of the optimism of market participants shown during the jewelry exhibition in Hong Kong,” said Yury Okoyomov, a vice president at Alrosa.

Rough sales during the first quarter came to approximately $1.3 billion, in line with last year, according to VTB Capital. Alrosa told investors in March it expected first-quarter sales would amount to $1.25 billion, after its rough price index rose 2% for the three months.

Alrosa is scheduled to report its first-quarter operations review on April 20.   
Tags: Alrosa, diamonds, Rapaport News, VTB Capital
Similar Articles
DTC Botswana sortingDe Beers Sales Slump 25% in May
May 21, 2019
De Beers’ sales fell to their lowest level in more than a year and a half, as a slowdown in the Indian
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.