Rusal back in black after restructuring
Russian metals giant UC Rusal yesterday it swung back into the black in 2009 following its debt restructuring, reporting a net profit of $821 million (Dh3 billion). Rusal, the first Russian company to list on the Hong Kong Stock Exchange, said 2009 was "one of the toughest" years on record for the aluminium industry. It reported a net loss of $5.98bn in 2008.
The world's largest aluminium producer returned to profit despite revenue plunging 48 per cent to $8.17bn as demand and prices for aluminium slid during the global economic crisis.
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