Russia’s RUSAL Q2 net returns to black

On Tuesday, Russia’s United Company RUSAL (HKG:0486), the world’s top aluminium producer, reported that it returned to the black in the second quarter, thanks to higher output and better prices of the lightweight metal.

The press release is quoted as saying:

RUSAL (RUAL.PA), which listed in Hong Kong in January, posted a net profit of $1.02 billion for the three months ended June, beating an average forecast of $478 million from eight analysts polled by Reuters. The net compared with a loss of $230 million a year ago and was up from the first quarter profit of $247 million. It earned a net profit of $1.27 billion in the first half versus a loss of $868 million a year ago, the company said in a filing to the Hong Kong stock exchange.

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