Industry News by Nemesis

Alrosa Sales Reach Six-Month High

December 12, 2019

 

Alrosa’s sales rose 5% year on year to $287.8 million in November, as the manufacturing sector began to rebound, the Russian miner said Tuesday.

The monthly sales are the highest the company has reported since April, and the fourth highest of the year. 

“November sales growth [is] evidence that [the] midstream sector, specifically in India, is on track to restore its balance,” said Alrosa deputy CEO Evgeny Agureev. “Somewhat more active purchasing activity at end consumers in key regions also provides support to our sales volumes.”

Rough-diamond sales increased 6% to $282.1 million for the month, while polished revenue fell 22% to $5.8 million.

Alrosa’s sales dropped 29% to $2.97 billion in the first 11 months of the year. Revenue from rough stones also decreased 29% to $2.92 billion for the period, while polished-diamond sales slid 41% to $53 million.

Image: Rough diamonds. (Alrosa)

 

Source: Rapaport

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