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Alrosa releases first financial statement since March 2022


Alrosa's first financial statement since March 2022, when it ceased reporting due to the disruption caused by the conflict in Ukraine that disconnected the company from much of the global diamond industry, has been published. The invasion in February 2022 prompted sanctions on Russian diamonds by Western nations, which remain in effect.


In the report, the company noted a slight increase in sales, amounting to RUB 188.16 billion ($1.9 billion), during the six-month period, compared to RUB 187.88 billion ($1.9 billion) from the previous year. However, profit experienced a decline of 35%, amounting to RUB 55.57 billion ($562.5 million).


This year's first-half revenue also exceeded the RUB 181.76 billion ($1.84 billion) reported by Alrosa for the same period in 2021, prior to the imposition of sanctions.


Moving to the second quarter of 2023, the company reported an 8% year-on-year revenue growth, reaching RUB 92.51 billion ($936.5 million). Nevertheless, profit saw a decline of 25%, totaling RUB 27.07 billion ($274 million).



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