Rusal recorded US$1.69B profit last year despite sanctions

Russian aluminum giant Rusal, which is the parent company of the Bauxite Company of Guyana Incorporated (BCGI), has declared a net profit of US$1.698 billion for 2018, representing a growth of 39% over the previous year despite US sanctions.

According to a statement on the company’s website, total revenue increased 3.1% to US$10.28 billion against US$9.969 billion for the same period the previous year.

The reported recurring net profit saw a 7.8% year-over-year surge in 2018 and amounted to $1.695 billion.

The company credits the growth to a 7.2% increase in aluminium prices at the London Metal Exchange where in 2018, a tonne of the metal was priced at US$2,110, compared to US$1,968 in the previous year…..

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