Sourcing

Alrosa’s 2015 Revenue Up 8%

SourcingMar 18, 2016

Alrosa’s 2015 Revenue Up 8%

Russian diamond mining company Alrosa reported Thursday that revenue was up 8 percent in 2015 to $3.28 billion, due to a favorable market environment and the rouble’s depreciation against the dollar.

Moscow--Russian diamond mining company Alrosa reported Thursday that revenue was up 8 percent in 2015 to $3.28 billion, due to a favorable market environment and the rouble’s depreciation against the dollar.

The company also saw a 24 percent decline in sales volumes in the full-year period while net income totaled $470.6 million as compared to net losses of $245.3 million in 2014.

“After a decline in rough diamond market activity in (the second half of) 2015, we note signs of recovering market demand for the company’s main products,” CEO Andrey Zharkov said. “Alrosa’s strong FY 2015 financial results were supported by both sales favorable FX market environment and the company’s cost control initiatives.”

Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

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