Polyus Gold posts 1H 2009 Net Profit of $150 million
Published: 25 September, 2009, 17:00
Image from polyusgold.com
TAGS: Markets, Corporate Results, Commodities, Finance
Russia’s largest gold producer, Polyus Gold, has posted a 1H 2009 Net Profit of $150 million under IFRS.
The bottom line is down 6.8% from the $160 million net profit posted for 1H 2008, with EBITDA falling to $218 million against $235 million salesfor 1H 2008 as Revenues fell 12.9% year on year, to $451.9 million.
The financials come on the back of Polyus Gold’s earlier announcement that output fell by 14% for 1H 2009 due to lower quality ores at its Olimpiadinsky mine.
The company has also announced that it will set up a business unit based on the former KazakhGold assets it acquired, with the Kazakh business unit to be integrated into the Polyus Gold management structure by the end of the year.
25.09.2009, 16:07
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