Alumina (ASX:AWC) profit plunges as price dips

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