Alrosa Posts 41-Percent Jump In Revenue To $5.4 Billion In 2016

(IDEX Online) – Alrosa reported a 41-percent jump in revenue to 317.1 billion rubles ($5.4 billion) for 2016 IFRS (International Financial Reporting Standards) results.

Meanwhile, net income surged fourfold on the year to 133.5 billion rubles ($2.25 billion) and free cash flow increased threefold to 111.4 billion rubles ($1.9 billion).

Igor Kulichik, Alrosa's Vice President - Chief Financial Officer, said 2016 was "a year of active recovery in the diamond market following the decline of 2015.

"The company managed to deliver record-high financial performance and generate net cash flow sufficient to repay short-term and medium-term liabilities and pay out dividends to shareholders."