Alumina see profit cut by 26%

Company News

by Rachael Jones

Alumina (ASX:AWC) today reported a statutory net profit after tax of US$210.9 million for the half-year to 30 June 2019 that's 26 per cent down the results on the prior corresponding period of $286.4 million.

Cash cost per tonne of alumina produced improved by 3 per cent per tonne.

EBITDA of US$949.9 million, a decrease of US$258.1 million that's 21 per cent on the last half.

We expect a modest alumina surplus for the rest of 2019,” said chief executive Mike Ferraro.

The Company declared an interim, fully franked dividend of 4.4 US cents per share.

Shares in Alumina (ASX:AWC) closed 0.93 per cent higher at $2.18 yesterday.

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.