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Alcoa back in the profit zone

January 9, 2013

Alcoa’s fourth-quarter results surprised positively and the group managed to turn around the $191 m or 18 cents per share loss reported in the previous year to a net profit of $242m or 21 cents a share in the final quarter of 2012. Management increased its guidance for 2013 on the back of higher aluminum demand from China and the US, which is expected to support rising aluminum prices. Revenues fell to $5.9 bn from $5.99 bn a year earlier, beating the $5.6 bn market consensus. Alcoa shares rose 1.6% to $9.25 in after-hour trading.