Russia's Alrosa Reports Net Profit For Last Year of $1.25 billion

Russian miner Alrosa’s net profit last year under Russian Accounting Standards came to $1.25 billion, the firm said.

And its Supervisory Board would thus recommend to its annual general meeting the payment of around $260 million in dividends for 2012.

The Supervisory Board also heard a report from Goldman Sachs on progress concernbing an Initial Public Offering of up 14 percent of Alrosa shares which is slated to take place later this year on the Moscow stock exchange.