NEW YORK: Alcoa Inc, the world’s largest aluminium producer, has reported a profit dip for the latest quarter but the result still beat Wall Street estimates as the company controlled costs to offset weaker demand in the key aerospace and gas turbine sectors and higher energy costs.
Alcoa, which started a massive restructuring earlier this year in the face of sluggish demand, posted a second-quarter net income of US$216mil, or 26 cents a share, down 7% from the US$232mil, or 27 cents a share, it earned a year ago.
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