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Russia's Polyus says third-quarter net profit down 5 percent year-on-year
November 9, 2017 / 7:37 AM / a month ago

Russia's Polyus says third-quarter net profit down 5 percent year-on-year

MOSCOW (Reuters) - Russia’s largest gold producer Polyus (PLZL.MM) said on Thursday its third-quarter net profit decreased 5 percent year-on-year to $371 million due to a gain on derivatives and investments in the prior period, as well as finance costs.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose 7 percent to $475 million while total revenue grew 5 percent to $744 million.

    Polyus, controlled by the family of Russian tycoon Suleiman Kerimov, reiterated its production guidance for 2017 of 2.075–2.125 million ounces.

    The company’s net debt increased to $3.15 billion as of the end of the third quarter compared to $3.08 billion three months earlier.

    Polyus shares were up 1.5 percent in early trade in Moscow.

    Reporting by Polina Devitt and Polina NikolskayaEditing by Maria Kiselyova

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