November 5, 2018 / 12:33 AM / 13 days ago

Rusal's Q3 profit jumps 55 pct q/q as U.S. sanctions postponed

HONG KONG, Nov 5 (Reuters) - Russian aluminium giant Rusal posted a third-quarter adjusted net profit of $338 million on Monday, up 55 percent from the previous quarter, as sanctions imposed by Washington in April on the Hong Kong-listed company were postponed.

Recurring net profit at Rusal was up 42 percent from the second quarter, and increased 43 percent from a year ago. Recurring net profit is defined as adjusted net profit plus the company’s net effective share in results of Russian mining giant Norilsk Nickel. (Reporting by Polina Devitt in MOSCOW and Donny Kwok in HONG KONG Editing by Kenneth Maxwell)

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