Alumina: 1st Half Net Profit US$44.2 Million
August 09 2010 - 8:26PM
Dow Jones News
Alumina Ltd. (AWC.AU) said Tuesday that first half net profit
jumped to US$44.2 million from US$4.2 million a year earlier.
On an underlying basis, it recorded a US$22.2 million profit in
the six months ended June 30, compared with a US$10.4 million loss
in the first half of 2009. A consensus of three analysts had
forecast the figure at US$36 million, with a wide range from US$28
million to US$43 million.
Revenue for the Alcoa World Alumina and Chemicals joint venture
with Alcoa Inc. (AA) was US$2.65 billion over the period, compared
to US$1.71 billion during the first half of 2009.
Alumina, whose sole significant asset is a 40% stake in AWAC,
will pay a dividend of 2 U.S. cents per share.
It didn't pay a dividend in the previous corresponding
period.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
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