Polyus Gold H1 Net Profit Jumps 106% to $426 Mln

© RIA Novosti . Vitaly Bezrukikh / Go to the mediabankRussia's largest gold producer Polyus Gold saw its 2012 first half IFRS net profit skyrocket 106 percent year-on-year to $425.9 million
Russia's largest gold producer Polyus Gold saw its 2012 first half IFRS net profit skyrocket 106 percent year-on-year to $425.9 million - Sputnik International
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Russia's largest gold producer Polyus Gold saw its 2012 first half IFRS net profit skyrocket 106 percent year-on-year to $425.9 million, the company said in a statement on Thursday.

Russia's largest gold producer Polyus Gold saw its 2012 first half IFRS net profit skyrocket 106 percent year-on-year to $425.9 million, the company said in a statement on Thursday.

That was above a consensus forecast of $372 million from analysts polled by RIA Novosti. The company's revenue rose 36 percent in the first six months of this year to $1.224 billion with EBITDA growing 59 percent in the reporting period to $634.3 million.

Polyus Gold's gold production rose 18 percent in the first half of 2012 to 721,000 ounces after the company built up production at the Olimpiada and Blagodatnoye gold mines in the Krasnoyarsk Territory in East Siberia and the Kuranakh gold mine in Yakutia in the northeast.

Headquartered in Moscow, Polyus Gold's operating mines and development and exploration projects are located in five major gold mining regions in Russia - the Krasnoyarsk Territory and the Irkutsk Region in Siberia, the Far Eastern Magadan and Amur Regions, and the Republic of Sakha (Yakutia) in East Siberia.

 

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