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Diamond producer Alrosa's revenue down 7% to $1.3 bln in 1H08

MOSCOW, August 15 (RIA Novosti) - Alrosa [RTS: ALRS], Russia's largest diamond producer, said Friday its revenue calculated to Russian Accounting Standards dropped 7% year-on-year to 31.5 billion rubles ($1.3 billion) in the first half of 2008.

The company's gross profit declined 17% to 14.8 billion rubles ($609.3 million) in January-June 2008, against the same period last year.

Earlier reports said Alrosa's net profit totaled 3.4 billion rubles ($141 million) in the first six months of 2008, against 5.8 billion rubles ($238.8 million) in the same period last year.

Alrosa, which accounts for 97% of Russian and 25% of global diamond output, produced diamonds worth $2.37 billion in 2007.

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