Global Diamond Club

[RonnieD]

Alrosa deal squeezes De Beers
http://www.miningmx.com/diamonds/623448.htm

ALROSA 2006 Profits +3%

By Jeff Miller Posted: 03/30/07 14:49 [Submit Comment]

RAPAPORT... According to Russia's accounting standards ALROSA's profit for year 2006 rose 3.24 percent to 15.579 billion rubles ($599.96 million.) ALROSA reports two profit figures usually, the second of which would come mid-year under the International Financial Reporting Standards.

ALROSA mined some $2.3 billion in diamonds during the year, and rough sales held flat at $2.865 billion.

It is expected that ALROSA would pay out dividends, although the decision would not be made before a June shareholder meeting. For the company's 2005 results, shareholders received 9,810 rubles ($377.79) per share.

On December 26, 2006, ALROSA estimated growth for 2007 of about 1 percent to $2.9 billion and expected profits from rough sales to hold at about $599 million.