Alcoa ends record run.(in face of weak economy following terrorist attacks)(Brief Article)(Statistical Data Included)
Mining Journal, October, 2001
Alcoa Inc., the largest company in the primary metals/mining sector in terms of market capitalisation, has finally succumbed to the market conditions that have been affecting the global mining industry for some time. The company has reported a net profit of US$339 million for the September 2001 quarter, an 8% decrease on the corresponding quarter of 2000, and the end of its recent run of record net earnings. Although net earnings have slipped back 21% from the US$429 million (before special charges) reported in the June 2001 quarter (MJ, July 13, p.31), the company believes that the level of profit generated in the September quarter is indicative of its success in reducing and managing costs in a difficult market. Commenting on the results, Alcoa's chairman and chief...
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