Alumina 2010 profit misses forecasts

Australia's Alumina Limited reported a strong jump in profit for 2010 but its earnings were well below forecasts.

It said that the market outlook for alumina and aluminum continues to improve and saw global aluminum demand rising 12% this year. It had signed all its new 2011 alumina contracts with prices tied to the alumina price index.

Alumina, 40% partner in the Alcoa World Alumina and Chemicals JV with Alcoa Inc reported underlying earnings after tax of USD 37 million for 2010 up from USD 0.3 million a year ago. It also reported a net profit after tax of USD 35 million.

（Sourced from Reuters）