Russian gold miner Polymetal's Q3 revenue down 13% y/y

Polymetal International PK

02/11/2022 07:00

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)