GV Gold IFRS net profit falls 9.5% to $19 mln in Jan–Jun

MOSCOW, Aug 27 (PRIME) -- The net profit of Russia’s gold producer GV Gold fell 9.5% on the year to U.S. $19 million in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Monday.

Revenue soared 70% to $146 million. Operating profit grew 52% to $43 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 74% to $57 million, net debt amounted to $177 million on June 30.

Gold sales jumped 66% to 113,000 ounces. The average sales price increased 7% to $1,323 per ounce.

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