Russia’s Polyus says Q3 net profit down 5 pct y/y

MOSCOW, Nov 9 (Reuters) – Russia’s largest gold producer Polyus said on Thursday its third-quarter net profit decreased 5 percent year-on-year to $371 million due to a gain on derivatives and investments in the prior period, as well as finance costs.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose 7 percent to $475 million while total revenue grew 5 percent to $744 million.

Polyus, controlled by the family of Russian tycoon Suleiman Kerimov, reiterated its production guidance for 2017 of 2.075–2.125 million ounces.

The company’s net debt increased to $3.15 billion as of the end of the third quarter compared to $3.08 billion three months earlier.

Polyus shares were up 1.5 percent in early trade in Moscow.

(Reporting by Polina Devitt and Polina Nikolskaya Editing by Maria Kiselyova).

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