ALROSA Reports 26-percent Rise in Revenues for H1 2015

ALROSA (MCX:ALNU) announced that during the first half of 2015, its revenues rose 26 percent from the year-ago period, hitting 131.9 billion rubles.
As quoted in the press release:

EBITDA grew by 49% y-o-y and reached RUB 70.5 bn with EBITDA margin going up to 53%.
Net profit in H1 2015 grew 2.1x y-o-y and amounted to RUB 47.4 bn.
Free cash flow in H1 2015 increased by 72% y-o-y and amounted to RUB 35.4 bn due to higher operating profit.

Andrey Zharkov, CEO of ALROSA, commented:

FX market environment continues to have positive impact on ALROSA’s financial results. The Company notes a steady increase in demand for diamond jewelry in the USA. Less active diamond jewelry market in Asia is a result of deterioration of the macroeconomic situation in the region. ALROSA’s forecast for rough diamond demand is a conservative one, though the market is expected to pick up by year-end 2015.

Click here to read the full ALROSA (MCX:ALNU) press release.