OJSC Alrosa has announced its results for the first half of 2011. The diamond mining company has reported production of 19 million carats, which marks an 8% increase over the same period last year. The company has also said that its sales are in line with production volumes, with 19.1 million carats sold in the first half of 2011.

The company's operating profit has increased 22%, with income rising more than five times what it was in H1 of 2010. Alrosa recorded a net profit of $600 million in the first half of 2011.

And despite lower sales volumes in 2011, the rising price of diamonds has allowed revenue to remain comparable to what it was in 2010 when there was a backlog of diamonds to sell from 2009. The company's average price per carat in 2011 was $113, as compared to $80 in 2010 – a 41% increase.