Cost-cutting continues as Alcoa’s H2 revenues drop
Published: Tuesday, 12 July 2016
Alcoa is ploughing ahead with its cost-cutting plan as a way to lighten the business while alumina and aluminium markets remain weak, dampening revenues in 2016 to date.
US-based aluminium leader Alcoa Inc. posted a 10% decrease
in revenues year-on-year (y-o-y) to $5.3bn in the second
quarter of 2016, on the back of lower aluminium and alumina
prices and reduced capacity.
Net income, at $178m in Q2, was close to $30m lower than at
this time last...