Rusal reports net profit increase

Russia’s Rusal, the worlds top aluminium producer, yesterday reported a better than expected third quarter net profit, despite weak economic conditions that dampened prices and demand.

Rusal, which owns Aughnish Alumina and competes with US aluminium maker Alcoa and China’s Chalco, said its quarterly profit was helped by a decline in interest expenses and distribution and management costs.

Rusal posted a net profit of $432 million for the three months ended September, which compared with a profit of $29 million for the same period a year earlier. It said it had not decided whether to pay dividends. – (Reuters)