Russia-focused IRC’s net loss widens 60% to $25.2 mln Jan–Jun

MOSCOW, Aug 30 (PRIME) -- The net loss of IRC Ltd, the iron ore division of Petropavlovsk Plc, which runs gold deposits in Russia, widened 60% on the year to U.S. $25.224 million, the company said in a statement on Friday.

The loss adjusted for one-time expenditures and the exchange rate-related loss stood at $8.219 million.

Revenue grew 27% to $89.244 million, earnings before interest, taxes, depreciation and amortization (EBITDA) increased 12% to $13.164 million. The pretax loss widened 70% to $25.932 million.

End