Alrosa posts FY 2010 net profit of 11.788 billion roubles

Russian diamond producer, Alrosa, has posted a FY 2010 net profit of 11.788 billion roubles under IFRS.

The bottom line is up from the net profit of 3.46 billion roubles reported for the FY 2009, with pre – tax profit jumping to 15.97 billion roubles from 6.66 billion roubles posted a year earlier, on the back of increase in sales revenue to 113.39 billion roubles from 77.95 billion roubles in FY 2009.According to the company’s statement, the net result is mainly attributable to increase in sales, notably export sales from 33.425 billion roubles in 2009 to 77.808 billion roubles posted for the FY 2010. The company reported the cost of sales increase from 43.689 billion roubles posted for the FY 2009 to 63.669 billion roubles in 2010 despite general administrative expenses decrease year on year to 7.286 billion roubles as of 31 December 2010 from 8.316 billion roubles in the same period of 2009.