Polyus Gold Net Profit Surges 57%

Polyus Gold International Ltd

reported a 57% surge in its profit during the year ended Dec. 31, 2011. Gold sales rose to a record $2.3 billion. Polyus Gold posted profit at $558.0 million, up from $356.5 million, in the year-ago period. Its operating profit surged 53% to $839 million from $547 million. Polyus Gold's EBITDA climbed 55% to $1.1 billion. However, basic and diluted earnings per share came in at $0.16 versus $0.11. Polyus Gold shares closed at $3.05 on Friday.