Alrosa's Diamond Profits Dip Over Increased Costs

Russian state-owned diamond company Alrosa released its financial figures for the first half of the 2013 calendar year, and they are marginally lower than they were during the first half of the previous year, Rough and Polished reports. The firm's net profits for 2013 H1 were approximately $460 million, which amounted to a 3.9% decrease on the net profits of 2012 H1.

During the last six months, Alrosa's revenues actually increased by 2.4% to equal $2.06 billion. However, during the same period, the firm's cost of sales rose markedly by 10.7% to reach $911 million. As a result, Alrosa's profits before taxes fell by 8.5% to hit $579 million between January and June 2013.

Rough and Polished also reported that Alrosa's accounts payable for 2013 H1 were $595 million – double the firm's accounts payable for 2012 H1.

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