Alrosa March Sales Beat Expectations

May 2, 2017 3:34 pm Published by Leave your thoughts

Alrosa saw steady demand for most categories of its rough diamond supply in March, pushing sales above its projected figures for the first quarter.

Sales grew 1% year on year to $566.6 million during the month, the company reported this week, with analysts at VTB Capital noting this was 12% higher than expected. Rough sales totaled $554.2 million, and polished sales closed at $12.4 million.

“In March, we continue to observe stable demand in almost all categories of rough diamonds, which is a confirmation of the optimism of market participants shown during the jewelry exhibition in Hong Kong,” said Yury Okoyomov, a vice president at Alrosa.

Rough sales during the first quarter came to approximately $1.3 billion, in line with last year, according to VTB Capital. Alrosa told investors in March it expected first-quarter sales would amount to $1.25 billion, after its rough price index rose 2% for the three months.

Alrosa is scheduled to report its first-quarter operations review on April 20.

From: http://www.diamonds.net/News/NewsItem.aspx?ArticleID=58780


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This post was written by StettnerInvestment

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