off-the-wire

Polyus’ H1 profit jumps 20% to $1.4 billion on high gold prices

Kitco Media
By Reuters
Published:
Updated:
Reuters
Polyus’ H1 profit jumps 20% to $1.4 billion on high gold prices teaser image

Polyus on Wednesday posted a 20% year-on-year jump in first-half profit to $1.4 billion, reflecting a global rise in gold prices.

Revenue increased by 35% to $3.7 billion and EBITDA grew by 32% to $2.7 billion, the company said.

At the same time, gold production fell by 11% to 1.3 million ounces. The company said it expects a decrease in output this year due to a planned reduction at its Olimpiada mine.

(Reporting by Anastasia Lyrchikova; Writing by Lucy Papachristou; Editing by Mark Trevelyan)

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