Alumina (ASX:AWC) profit plunges as price dips

Company News

by Rachael Jones

Alumina (ASX:AWC) today reported a statutory net profit after tax of US$214.0 million for the full-year to 31 December 2019, down 66 per cent.

Alumina prices fell during 2019 and stabilised around $280 per tonne early in 2020. Prices rebounded slightly to $300 per tonne last week amid market tightening.

The Company declared a final, fully franked dividend of 3.6 US cents per share. AWAC’s full-year alumina production was a record for the current portfolio and the cash cost of production fell by 7 per cent.

Shares in Alumina (ASX:AWC) are trading 0.9 per cent higher at $2.18
 

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.