Polyus Gold H1 2012 Net Profit More than Doubled
OREANDA-NEWS. September 3, 2012. Russia's largest gold producer Polyus Gold reported net profit of USD 426 million in the first-half of 2012, more than double year-on-year, due to increased sales volumes and higher gold price.
Sales at Polyus, controlled by businessmen Mikhail Prokhorov and Suleiman Kerimov, rose by 36 percent to USD 1.2 billion. Polyus said earlier its first-half gold output increased by 18 percent to 721,000 troy ounces.
Polyus posted its earnings before interest, tax, depreciation and amortisation (EBITDA) at USD 634 million in January-June, a 59 percent increase year-on-year.
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