But the Russian diamond producer is now seeing a recovery in demand
Russian diamond producer Alrosa said the volume of its rough sales fell 24 percent in 2015, though it has now seen a recovery in demand.
The company’s revenue, however, increased 8 percent to 224.5 billion rubles ($3.29 billion), due to the favorable currency market. Net income totaled 32.2 billion rubles, compared to a net loss of 16.8 billon rubles in 2014.
“After a decline in rough diamond market activity in the second half of 2015, we note signs of recovering market demand,” said Andrey Zharkov, CEO of Alrosa, in a statement.
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