Alumina 2012 Full Year US$152.9m Loss

Submitted by Share Trading on 25 February, 2013 - 12:11

Aluminium producer, Alumina (ASX:AWC) have reported its 2012 full year profit results to shareholders.

  • Alumina full year loss of US$152.9 million down from a loss of US$47.3 million in the previous corresponding period.
  • Losses from foreign exchange contributed almost US$90 million among other losses. If those item are excluded: Alumina net loss of US$62.1 million from a Net Profit of US$126.6 million in 2011.
  • Underlying loss was US$52.5 million compared to an underlying profit of US$128 million in the previous corresponding period.
  • Revenue fell 13 percent to US$5.8153 billion.
  • Alumina chief executive John Bevan said , "The outlook for the market in 2013 remains uncertain with macro-economic conditions, particularly in Europe, remaining difficult"
  • Alumina's only earning asset is Alcoa World Alumina and Chemicals (AWAC), with Alumina owning 40 percent and Alcoa holding the controlling remaining 60 per cent.
  • Alumina has not declared a dividend distribution for this period.

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