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Kristall Revenues +75% in First 9 Months of 2011
Kristall of Smolenk, the Russian state-owned diamond manufacturing company, reported that revenues rose 75 percent year on year to $438 million (RUB 13.4 billion) in the first nine months of 2011. Of the total, 98.3 percent of revenue was generated by export sales while the remaining 1.7 percent was from the domestic market in Russia.
Kristall’s net income grew 96 percent to $11.7 million (RUB 358.2 million).
Kristall sources rough diamonds from ALROSA and the Diamond Trading Company (DTC), the distribution arm of De Beers.