Rusal posts $1.27 bln H1 profit, above forecast, output up 1%

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Rusal posts $1.27 bln H1 profit, above forecast, output up 1%

MOSCOW. Aug 31 (Interfax) - UC Rusal posted net profit of $1.268 billion to International Financial Reporting Standards (IFRS) for H1 2010, compared with losses of $868 million a year previously, the Russian aluminum giant said in an earnings report.

This was more than double the $623.4 million that analysts predicted in a consensus forecast.

Sales revenue jumped 41.6% year-on-year to $5.321 billion and earnings before taxes, depreciation and amortization (EBITDA) were positive $1.325 billion, compared with negative $144 million a year previously.

Primary aluminum output rose 1% year-on-year to 1.996 million tonnes in H1 2010 - analysts thought this would go up 2% to just over 2 million tonnes.