CORRECTED-RUSAL posts $208 mln recurring net loss as aluminium prices slide
(Corrects to loss in headline and first paragraph)
SHANGHAI Aug 19 (Reuters) - Russia's United Company RUSAL Plc, the world's largest aluminium producer, posted a recurring net loss of $208 million in the three months ended June, a sharp swing against last year and well below forecasts as aluminium prices continued to fall.
A poll from seven banks and brokerages by Reuters had predicted RUSAL , which competes with U.S. aluminium maker Alcoa Inc, would post a loss of $142 million.
The result compared with a revised recurring net profit of $125 million for the same period a year earlier.
Recurring net profit is defined as adjusted net profit plus the company's net effective share in Russian miner Norilsk Nickel.
RUSAL's total net loss in the first half of the year was $439 million, the company said.
(Reporting by Adam Jourdan and Hong Kong newsroom; Editing by Paul Tait)
- Atheists face death in 13 countries, global discrimination: study
- South Africa admits mistake over 'schizophrenic' Mandela signer |
- Missouri executes man for killing good Samaritan motorist in 1994
- Thai military chief rebuffs meeting request in blow to protesters |
- Apple scores legal victory over Samsung in South Korea