Alumina narrows H1 loss

Aluminium group says market conditions remain challenging, but tips benefits from rise in $US.

Alumina (AWC) says market conditions for aluminium remain challenging, but is confident of the financial benefits arising from a resurgent US dollar after narrowing its first-half loss.

In the six months to June 30, Alumina posted a net loss of $US2.4 million, narrower than the $3.8 million loss in the previous corresponding period.

The underlying net loss for the period came in at $7.2 million, better than consensus forecass for 10.2 million.

In the same period revenue was $US200,000, an increase on the $US100,000 recorded in the first half of 2012.

The group declined to pay a dividend.

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