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Miner and metals producer Alumina has more than doubled first-half net profit to $US286.4 million ($389.6m), as margins jumped at its AWAC joint venture with metals giant Alcoa on the back of higher alumina prices globally.

The company expects current market conditions to continue into the second half, because of lower global supplies in the alumina market and lilely winter production cuts in China.

It declared a fully-franked interim dividend of US8.6 cents a share, up from US4.2 cents a year ago.

Alumina shares were up 15 cents, or 5.4 per cent, to $2.91 at 1206 AEST.