Rusal Q2 profit surges vs year-ago earnings

Adjusted net profit of Russian aluminum producer Rusal in the second quarter of 2018 decreased 31% in comparison with the first quarter and amounted to $218 million, the company said in its interim report.

In comparison with the second quarter of 2017, the adjusted net profit grew by 8%.

In January-June, the company’s adjusted net profit rose by 15% to $535 million.

In the second quarter, revenues decreased by 18% quarter-on quarter to $ 2.25 billion. In comparison with the second quarter of 2017, this indicator decreased by 8.7%.

In January-June, the company’s revenues increased by 4% to $4.99 billion, TASS reported.

"The sanctions had a tangible impact on the company’s export activities, logistics, and operations in the financial market. The uncertainty generated by the U.S. sanctions remains a major risk for Rusal and the company continues to manage this situation," Reuters cited a Rusal representative as saying.