Russian gold miner Polymetal’s Q3 revenue down 13% y/y
MOSCOW, Nov 2 (Reuters) – Polymetal’s (POLYP.L) third-quarter revenue fell by 13% year on year to $714 million due to accumulated inventory and lower metal prices , the Russian gold and silver producer said on Wednesday .”The company has successfully completed the restructuring of its sales channels and started to unwind accumulated inventory . We expect strong positive free cash flows in the fourth quarter,” CEO Vitaly Nesis said in a statement.
Reporting by Anastasia Lyrchikova and Polina Devitt; editing by Jason Neely
MOSCOW, Nov 2 (Reuters) – Polymetal’s (POLYP.L) third-quarter revenue fell by 13% year on year to $714 million due to accumulated inventory and lower metal prices, the Russian gold and silver producer said on Wednesday.
“The company has successfully completed the restructuring of its sales channels and started to unwind accumulated inventory. We expect strong positive free cash flows in the fourth quarter,” CEO Vitaly Nesis said in a statement.
