Alumina sees profit almost double

Company News

by Rachael Jones

Alumina and bauxite producer Alumina's (ASX:AWC) net profit after tax for the June half rose 110 per cent to US$286.4 million from $137 million for the same corresponding period.

EBITDA increased by $526million to $US1.208 billion.

The company expects the current conditions to continue into the second half with the Alunorte refinery in Brazil still running below full capacity and Chinese winter production cuts expected to commence later in the half.

They declared a final dividend of US8.6 cents a share.

Shares in Alumina (ASX:AWC) are 4.71 per cent higher to $2.89.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.