Dubai Aluminum sees 101.9% jump in net profit

10 Mar 2011

(MENAFN) The President and Chief Executive of Dubai Aluminum Company (Dubal), Abdullah Kalban, said that net profit increased by 101.9 percent to USD577.1 million in 2010, compared to USD285.8 million in 2009, reported Gulf News.

Kalban said that the increase is mainly attributed to increasing prices of aluminum and the company slashing its unit costs.

Revenue rose by 25.8 percent to USD2.36 billion in 2010 compared to USD1.87 billion in 2009.

According to Kalban, the prices of the London Metal Exchange (LME) were up to USD2,350 from USD1,900 per tone in 2010, enhancing the company’s performance.

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