Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

ALROSA's net profit under RAS for the first half of 2019 decreased to 36.3 billion rubles

08 august 2019

alrosa_logo.jpgALROSA PJSC, the head company of the ALROSA Group, published financial results for the first half of 2019 under Russian Accounting Standards (RAS).
ALROSA's revenue under RAS for the first half of 2019 decreased by 29% compared to the previous year to 89.1 billion rubles, which was due to a general deterioration in the situation on the world diamond market. The decrease in revenue was reflected in the RAS net profit indicator - in the first six months of this year, it decreased by 30% year-on-year to 36.3 billion rubles.
Member of the Board of PJSC ALROSA, Evgeny Agureev, said: “The decrease in revenue compared to last year occurred against the backdrop of significant crisis phenomena in the diamond industry, which are based on a whole range of different reasons. Excessive stocks in the cutting sector generated during the period of high demand and high expectations last year, financing difficulties faced by Indian cutters, the crisis in trade relations between the USA and China, the two largest markets for the consumption of diamond jewelry, the departure of jewelry brands online and, as a result, they don’t have to keep significant stocks of finished products in retail - these and other reasons negatively affected the sales and financial results of all global mining companies. At the same time, the decrease in the volume of products sold by diamond mining companies, along with other measures taken by major players, contribute to a gradual increase in market balance and stabilization of sales.”
IFRS results for the QI 2019 are scheduled to be published in mid-May of this year.