Polyus Gold significantly ups net profit in 2011
Azerbaijan, Baku, April 2 / Trend E. Kosolapova/
One of the world's largest gold producers Polyus Gold increased net income by 57 percent in 2011 compared to 2010, Novosti-Kazakhstan reported referring to the company. Polyus Gold's net income hit $558 million in 2011 according to the international standards.
The company's revenues rose by 37 percent -up to $2.34 billion in 2011; physical gold sales totaled 1.48 million ounces (8 percent increase compared to 2010). Polyus Gold's EBITDA grew by 55 percent - up to $1.11 billion.
The company's capital expenditures fell by 2 percent to $341.13 million.
Polyus Gold International Limited is an international company, the leading gold producer in Russia and Kazakhstan, one of the world's largest gold producers. Headquartered in London, Polyus Gold's operating mines and development/exploration projects are located in 5 major gold mining regions of Russia - the Krasnoyarsk Territory, the Irkutsk, Magadan, Amur Regions, the Republic of Sakha (Yakutia), as well as in the Republic of Kazakhstan, Romania and Kyrgyzstan.
Polyus Gold produced 1.497 million ounces (46.56 tons) of gold in 2011 or 8 percent more than in 2010.