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Russia's Nord Gold Q3 net income up 32 pct yr/yr
November 16, 2012 / 7:10 AM / 5 years ago

Russia's Nord Gold Q3 net income up 32 pct yr/yr

MOSCOW, Nov 16 (Reuters) - Nord Gold, Russia’s third-largest gold producer, reported on Friday a 32 percent year-on-year increase in third-quarter net income to $58 million boosted by higher sales.

The company’s revenue rose 27 percent year-on-year to $322.5 million, Nord Gold said in October.

Its earnings before interest, taxation, depreciation and amortisation (EBITDA) were up 18 percent to $131.5 million, the company, controlled by businessman Alexei Mordashov, added on Friday.

Nord Gold, which also operates in Kazakhstan and West Africa, confirmed its full year production guidance of between 720,000 and 770,000 ounces of gold equivalent - a measure of gold and other metals expressed in units of gold.

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