Alumina (ASX:AWC) profit plunges as price dips

25Feb

Alumina (ASX:AWC) profit plunges as price dips

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Alumina (ASX:AWC) today reported a statutory net profit after tax of US$214.0 million for the full-year to 31 December 2019, down 66 per cent.

Alumina prices fell during 2019 and stabilised around $280 per tonne early in 2020. Prices rebounded slightly to $300 per tonne last week amid market tightening.

The Company declared a final, fully franked dividend of 3.6 US cents per share. AWAC’s full-year alumina production was a record for the current portfolio and the cash cost of production fell by 7 per cent.

Shares in Alumina (ASX:AWC) are trading 0.9 per cent higher at $2.18
 
Copyright 2020 – Finance News Network


Source: Finance News Network

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