RusAl first half profit rises to $1.268 bln after net loss last year

RusAl, the world largest aluminum producer, turned in a first half 2010 net profit of $1.268 billion following a net loss of $868 million in the same period last year.

RusAl, the world largest aluminum producer, turned in a first half 2010 net profit of $1.268 billion following a net loss of $868 million in the same period last year, the Russian metals giant said on Tuesday.

First half revenue increased by 41.6 percent year-on-year to $5.321 billion, mainly due to higher aluminum prices, the company said.

EBITDA rose to $1.325 billion in the January-June period compared to a negative $144 million in the first half of 2009. Adjusted EBITDA margin has risen to 24.9 percent, RusAl said.

MOSCOW, August 31 (RIA Novosti)