Lev Leviev's diamond business in Russia, Uralalmaz, boosted net profit 202 percent to $6.35 million (RUB 198.97 million) in 2008. Sales revenue grew 29 percent to $30 million and costs rose 12.5 percent to $18.3 million.
The Leviev Group's lapidary business Ruiz Diamonds ended 2008 with net profit drop of 94 percent to $675,580. Ruiz Diamonds sales fell 80 percent to $61 million in 2008, while costs fell 79 percent, but exceeded revenue. Leviev's business in Russia includes Uralalmaz, which produces diamonds in the Perm territory, Ruiz Diamonds and Moscow Jewelry Plant. Leviev Group also holds licenses for the development of two gold fields in Russia - the Karalvey in Chukotka and Sopka Kvartsevaya in the Magadan region, which Polymetal is buying.
c2009 Interfax
Diamond Trade News
The Leviev Group's lapidary business Ruiz Diamonds ended 2008 with net profit drop of 94 percent to $675,580. Ruiz Diamonds sales fell 80 percent to $61 million in 2008, while costs fell 79 percent, but exceeded revenue. Leviev's business in Russia includes Uralalmaz, which produces diamonds in the Perm territory, Ruiz Diamonds and Moscow Jewelry Plant. Leviev Group also holds licenses for the development of two gold fields in Russia - the Karalvey in Chukotka and Sopka Kvartsevaya in the Magadan region, which Polymetal is buying.
c2009 Interfax
Diamond Trade News
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