{"id":1170729,"date":"2020-03-10T14:26:48","date_gmt":"2020-03-10T20:26:48","guid":{"rendered":"https:\/\/www.mining.com\/?p=1016642"},"modified":"2020-03-10T14:26:48","modified_gmt":"2020-03-10T20:26:48","slug":"alrosa-points-to-weak-demand-for-21-revenue-drop","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1170729","title":{"rendered":"ALROSA points to weak demand for 21% revenue drop"},"content":{"rendered":"<p>ALROSA <a rel=\"noreferrer noopener\" aria-label=\"announced  (opens in a new tab)\" href=\"http:\/\/www.alrosa.ru\/wp-content\/uploads\/2020\/03\/MDA-release-Q412M-2019-ENG.pdf\" >announced<\/a> on Tuesday a 21% drop in revenue, down to RUB 238 billion ($3.32 billion), for 2019.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Russian diamond miner said in financial results for Q4 2019 and FY 2019 that sales totalled 33.4m carats, down 12% from 38.1m for 2018, because of &#8220;weaker demand in the rough and polished diamonds market.&#8221;<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> Company&#8217;s net profit declined by 31%  <\/p>\n<\/blockquote>\n<\/figure>\n<p>The company&#8217;s net profit declined by 31% to RUB 63 billion ($ 880 million).<\/p>\n<p>\u201cIn the first half of 2019, the diamond market was impacted by the excessive supply of polished diamonds and a decreased availability of funding for the Indian midstream segment,&#8221; ALROSA&#8217;s CFO Alexey Philippovskiy said.<\/p>\n<p>According to the company, diamond producers were able to adjust their sales policy by reducing supply by 20%, helping to improve the balance of demand and supply across the chain by the end of 2019. <\/p>\n<p>&#8220;In 1H 2020, jewellery demand will be impacted by exogenous factors. At the same time, the diamond industry looks much healthier in 2020, with balanced stocks, both for jewellery in retail, and for cutters\u2019 diamonds, and with the mid-stream leverage back to historical levels,&#8221; Philippovskiy said.  <\/p>\n<p>The company said it  expects to produce 34.2 million carats this year.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Russian miner sales totalled 33.4m carats, down 12 per cent from 38.1m for 2018.<\/p>\n","protected":false},"author":110,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4,2640],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170729"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1170729"}],"version-history":[{"count":5,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170729\/revisions"}],"predecessor-version":[{"id":1170963,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1170729\/revisions\/1170963"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1170729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1170729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1170729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}