OREANDA-NEWS. April 11, 2012. ALROSA President Fyodor Andreev held a working meeting with the Company’s management. The agenda included issues pertaining to ALROSA’s financial performance following the results of the 1Q 2012, sales policy issues, and development prospects of ALROSA’s African projects, reported the press-centre of ALROSA.

In the 1Q 2012 ALROSA Group sold rough and polished diamonds for a total of some USD 1 bln. 200 mln. ALROSA has noted a moderate growth of rough diamond prices, and the Company is expecting the growth to continue in the second quarter. Boost of demand for polished diamonds in China, India, and the USA, under the objective decrease in rough diamond production, is the major driver of rise in prices on the world diamond market. In the 1Q 2011 ALROSA Group sold some USD 950 mln. worth of rough and polished diamonds.

In the 1Q 2012 ALROSA’s net profit, according to preliminary figures, reached RUB 8 bln. 360 mln. with the plan of RUB 5 bln. 158 mln. In the first quarter last year ALROSA’s net profit was RUB 6 bln. 80 mln.

The Company’s management also considered the issues relating to debt management, as well as development prospects for gas projects and the Timir project.