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Rusal posts profit despite sanctions

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Aluminium giant Rusal has grown first half profit, despite being hit with sanctions by the US over its ties with Russian oligarch Oleg Deripaska.

The figures

Second quarter revenues fell from $2.46bn to $2.25bn, while gross profit slipped from $677m to $671m.

However adjusted EBITDA rose from $510m to $552m, with adjusted net profit climbing from $202m to $218m.

Net profit was bolstered by an 18 percent rise in the LME aluminium price over the period, while Rusal’s aluminium and alloys sales fell 22 per cent........

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