Alumina responds to Alcoa results

Thursday, Jan 13, 2011
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Alumina Ltd (ASX:AWC) has announced figures from its 40:60 Alcoa World Alumina & Chemicals (AWAC) partnership with Alcoa Incorporated.


On Tuesday Alcoa Incorporated delivered its fourth-quarter earnings.


Alumia says it received $97.55 million of fully franked dividends from AWAC during the quarter, bringing the total dividend received for the year to $235.33 million.


Chief executive John Bevan says the strong Australian dollar had resulted in end of period revaluations that impacted on second half AWAC results by a negative $US45 million.


Mr Bevan also says the outlook for the alumina industry is positive as demand continues to grow, and the development of daily and weekly alumina indices supports the change to indexed based pricing.


Alumina will report its full year results on 10 February 2011.


Alumina booked a net profit of $51.86 million in the six months to 30 June 2010.

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