Posted in | News | Bauxite | Earnings | Alumina

Alumina Ltd Out of the Red

Alumina Ltd (ASX:AWC),(NYSE:AWC) and its partner have received a shot in the arm by the renewed demand in aluminium and alumina allowing the company to get out of the red.

The mining company swung back to report a $US44 million net profit after tax in the first half of fiscal year 2010 after recording a loss in the second half of the fiscal year 2009.

The net profit made in the last six months by the Melbourne based Alumina Ltd has beaten the $37 million estimate made by the Credit Suisse Group AG. Its partner Alcoa Inc. also reported a second quarter profit which beat the analysts' forecasts and expectations.

The Chief Executive of Alumina Ltd John Bevan said that the company hopes to see the global demand for alumina to grow at 12 % this year. The company will pay a dividend of US2 cents per share where it did not pay a dividend in the corresponding period last year.

It has a 40% stake in Alcoa World Alumina and Chemicals joint venture with Alcoa. The revenue for AWAC rose 55% to $ US2.65 billion compared to $ US1.71 billion during the first half of 2009.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Chai, Cameron. (2019, February 18). Alumina Ltd Out of the Red. AZoMining. Retrieved on March 27, 2023 from https://www.azomining.com/News.aspx?newsID=197.

  • MLA

    Chai, Cameron. "Alumina Ltd Out of the Red". AZoMining. 27 March 2023. <https://www.azomining.com/News.aspx?newsID=197>.

  • Chicago

    Chai, Cameron. "Alumina Ltd Out of the Red". AZoMining. https://www.azomining.com/News.aspx?newsID=197. (accessed March 27, 2023).

  • Harvard

    Chai, Cameron. 2019. Alumina Ltd Out of the Red. AZoMining, viewed 27 March 2023, https://www.azomining.com/News.aspx?newsID=197.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit