Russia’s United Company RUSAL, the world’s largest aluminium producer, posted a 45 per cent drop in first-quarter recurring net profit due to lower aluminium prices but the result beat forecasts and its shares rose more than 3 per cent in early trade.
Recurring net profit - or adjusted net profit plus the company’s net effective share in Norilsk Nickel results - during the January-March period fell to US$52 million (HK$403.6 million) from a restated US$94 million (HK$729.5 million) a year earlier, RUSAL said in a statement to the Hong Kong Stock Exchange.
via Business feed http://www.scmp.com/business/companies/article/1237411/rusal-q1-profit-slide-beats-forecasts
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