RUSAL says quarterly recurring net loss US$76m

Russia’s United Company RUSAL, the world’s top aluminium producer, posted its biggest quarterly net recurring loss since its 2010 listing as product prices extended their decline due to a global oversupply of the lightweight metal.

RUSAL, which competes with US aluminium maker Alcoa, reported on Monday a recurring net loss of US$76 million in the three months ended September. That lagged the average forecast for a US$35 million loss in a Reuters poll of nine analysts.

The figure compared with a recurring net profit of US$620 million a year earlier.

via Business feed http://www.scmp.com/business/companies/article/1080504/rusal-says-quarterly-recurring-net-loss-us76m