Rusal reports 184.8% jump in net profit

MOSCOW: Russia’s Rusal reported a near three-fold jump in its annual earnings, reflecting lower production costs and higher prices for aluminium.

- 

Hong Konglisted Rusal, the world’s largest aluminium producer outside China, is under pressure from the widespread consequences of Western sanctions against Russia over its actions in Ukraine.

Rusal reported net profit of $803 million for the year ended December 31, 184.8 per cent higher than the year-ago period. Rusal’s revenue fell by I.1 to $12.08 billion while production costs dropped 6.8 per cent to $2,025 per metric tone.