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MOSCOW (Reuters) – State-controlled Russian diamond producer Alrosa on Thursday stated recovering gross sales helped it to greater than triple third-quarter internet revenue to 25 billion roubles ($354 million).
The world’s largest producer of tough diamonds, which competes with Anglo American (LON:) unit De Beers, is step by step restoring output after final yr’s 22% discount to 30 million carats when international diamond gross sales have been hit by the COVID-19 pandemic.
Demand for diamond jewelry grew in double-digit percentages within the third quarter, stated finance chief Alexey Philippovskiy, including that international diamond output would stay 20–25% beneath the pre-pandemic ranges within the coming years.
Alrosa’s third-quarter gross sales rose by 83% yr on yr to 9.2 million carats of diamonds.
The corporate additionally stated it raised its 2021 manufacturing estimate by 1 million carats to 32.5 million carats and stored its capital expenditure forecast unchanged at 21 billion roubles.
($1 = 70.5625 roubles)
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