Rusal triples its annual profits in 2010

FE Team | Published: April 01, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

MOSCOW, Mar 31 (AFP): The world's top aluminium producer, Russia's Rusal, announced Thursday that its net profits more than tripled in 2010 to $2.87 billion, due to growing demand for the metal, particularly in China. The company saw its profits grow from $821 milllion in 2009, the group said in a statement early Thursday, while revenue increased by 34.5 per cent on 2009 to $10.98 billion. "This strong growth was driven by a significant increase in demand and prices for our metal," the company's CEO, billionaire Oleg Deripaska, was quoted as saying in the statement. The company saw "robust demand growth" from China, the statement said. The demand from United States, Europe and Japan, which was depressed during the economic crisis, grew 14 per cent on 2009.