UPDATE: Russia’s Polymetal Jan–Jun IFRS net profit jumps 70% to $164 mln

(Adds link to full statement in last paragraph)

MOSCOW, Aug 24 (PRIME) -- The net profit of Russian precious metals producer Polymetal International jumped by about 70% on the year to U.S. $164 million in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement Wednesday.

Revenue fell 8% to $593 million, while the average sale price of gold in the period increased by 1% on the year to $1,225 per ounce and the price of silver fell 1% to $15.5 per ounce.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) also contracted by 1% to $294 million, the company said.

For further details, see the company’s statement on its official Web site:

http://otp.investis.com/clients/uk/polymetal/rns/regulatory-story.aspx?cid=442&newsid=776245

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