August 3, 2018 / 6:21 AM / 4 months ago

Russian gold miner Polyus posts 10 pct rise in Q2 net profit

MOSCOW, Aug 3 (Reuters) - Polyus, Russia’s largest gold producer, on Friday reported second-quarter net profit of $114 million, up 10 percent year on year, due to higher gold sales.

Excluding non-cash items, such as a foreign exchange loss, its adjusted net profit, jumped 68 percent to $457 million and matched its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA).

The latter rose 21 percent, beating an average estimate of $448 million in a Reuters poll. (Reporting by Polina Devitt; editing by Jane Merriman)

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