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Russia's Polyus Gold says 2015 adjusted net profit up 47 pct y/y

Reuters - UK Focus

MOSCOW, March 10 (Reuters) - Russia's largest gold producer Polyus Gold (Other OTC: PGILF - news) said on Thursday its adjusted net profit rose 47 percent year-on-year in 2015 to $901 million.

Revenue fell 2 percent year-on-year to $2.2 billion, Polyus said in a statement, due to an 8 percent drop in global gold prices. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) increased 25 percent to $1.3 billion on reduced costs and higher sales.

The company said it expects to produce 1.76-1.80 million ounces of gold in 2016. (Reporting by Jack Stubbs; editing by Maria Kiselyova)