UC RUSAL’s Profits Down 31% in QII’18
7 August 2018 (13:35)
UrBC, Moscow, August 7, 2018. United Company RUSAL reports its profit decreased by 31% in the second quarter of 2018 compared with the first quarter, Kommersant refers to the company report as stating. The figure reached $218m, which is, in fact, 8% more than one year earlier. In terms of half-year figures, the company’s net adjusted profit rose by 15% to $535m.
The second quarter’s revenues also dropped by 18%, down to $2.25bn. However, the revenues for the first half of the year went up by 4% and reached $4.99bn.
Oleg Deripaska-controlled UC RUSAL and En+ were both placed on the U.S. sanctions list in April. The U.S. authorities later announced that they would be willing to lift the sanctions should Oleg Deripaska no control the businesses; the Russian businessman then agreed to cut back on its stake in En+.
The second quarter’s revenues also dropped by 18%, down to $2.25bn. However, the revenues for the first half of the year went up by 4% and reached $4.99bn.
Oleg Deripaska-controlled UC RUSAL and En+ were both placed on the U.S. sanctions list in April. The U.S. authorities later announced that they would be willing to lift the sanctions should Oleg Deripaska no control the businesses; the Russian businessman then agreed to cut back on its stake in En+.
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