ALROSA 1Q Sales +5%

ALROSA reported that its sales of rough and polished diamonds rose 5 percent year on ‎year to $1 billion in the first quarter of 2012.‎

‎ALROSA observed moderate growth of rough diamond prices and the company is ‎expecting that trend to continue in the second quarter. ‎

Alrosa roughRising demand for polished diamonds in China, India, and the U.S. coupled with a decrease in rough diamond production have been the main drivers of price ‎increases in the global market, ALROSA explained. ‎

The company reported that its net profit rose 23 percent year on year to $282 million (RUB 8.36 ‎billion). ‎

Earlier, ALROSA reported that sales in 2011 rose 28 percent to $4.45 billion.‎

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