Polyus Gold 2011 Net Profit Rises 57% to $558 Mln

Russia’s largest gold producer Polyus Gold saw its 2011 net profit jump 57 percent year-on-year to $558 million to IFRS, the company said in a statement on Monday.

Revenue grew 37 percent last year to $2.34 billion comparing with 2010.

EBITDA rose 55 percent to $1.11 billion.

Gold sales increased eight percent to 1.48 million ounces, while the company’s capital expenses slipped two percent to $341.13 million.

Headquartered in Moscow, Polyus Gold’s operating mines and development and exploration projects are located in five major gold mining regions in Russia – the Krasnoyarsk Territory and the Irkutsk Region in Siberia, the Far Eastern Magadan and Amur Regions, and the Republic of Sakha (Yakutia) in East Siberia.


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