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Russia's Polymetal says 2016 net earnings up 79 pct
March 15, 2017 / 7:19 AM / 8 months ago

Russia's Polymetal says 2016 net earnings up 79 pct

MOSCOW, March 15 (Reuters) - Russian gold and silver producer Polymetal said on Wednesday its 2016 net earnings rose 79 percent year-on-year to $395 million due to higher prices for precious metals and foreign exchange gains driven by a stronger rouble.

Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose 15 percent to $759 million in 2016 with revenue up 10 percent to $1.6 billion, Polymetal said in a statement. (Reporting by Diana Asonova and Polina Devitt; writing by Polina Devitt; editing by Maria Kiselyova)

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