Rusal’s second-quarter net profit slides 72%

Aug 27, 2012 | 12:30 PM | Shivani Singh

Tags  Rusal, aluminum, quarterly earnings, Oleg Deripaska, Shivani Singh

SINGAPORE — United Rusal Co.’s second-quarter net profit slumped 72 percent year on year as the company pared down its demand forecast and announced plans to curtail additional capacity this year.

Recurring net profit, which includes Rusal’s share of MMC Norilsk Nickel’s earnings, dropped to $143 million from $502 million a year earlier.

"During the first half of 2012, continuing financial problems in the eurozone and slower-than-expected growth in emerging economies resulted in a further weakening of the global economic recovery," chief executive officer Oleg Deripaska said in a statement.....

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