February 11, 2019 / 7:35 AM / 11 days ago

Russia's Polyus Q4 adjusted net profit at $291 mln, down 18 pct on quarter

MOSCOW, Feb 11 (Reuters) - Russia’s largest gold producer, Polyus, said adjusted net profit was $291 million in the fourth quarter, an 18 percent decrease from the third quarter, the company said on Monday.

Adjusted net profit for the full year rose to $1.33 billion, Polyus said in a statement.

The company also said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in the fourth quarter stood at $484 million, down 10 percent from the third quarter.

Revenue in the fourth quarter was at $774 million, down 7 percent from the third quarter, the company said.

Polyus also said its board of directors intended to recommend a second half 2018 dividend of $296 million, or $2.2 per share. (Reporting by Andrei Kuzmin; Writing by by Maria Vasilyeva; Editing by Louise Heavens)

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