UC Rusal has accumulated a profit for the first time since the beginning of 2013

UC Rusal has accumulated a profit for the first time since the beginning of 2013. In Q2, the net profit by ISA was $116 million, and normalized net profit was $129 million, compared to a loss of $458 million in Q2 2013, and $3.222 billion in the whole 2013.

Despite a profit in Q2 2014, the company gained loss of $209 million in H1 2014, compared to net loss of $325 million in H1 2013. The corrected net loss increased to $395 million in H1 2014, due to the rapid devaluation of the ruble.

The CEO of UC Rusal O. Deripaska says that in Q2 the company considerably improved its financial results in comparison to Q1, in connection with growth in aluminum price and premiums and effective management for control over expenses. Another important factor in the growth in revenue was development of commodities assortment an the growth in HAV products yield.