Posted in | News | Packaging

Alcan Announces Strong Second Quarter

Aug 9 2005

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Alcan has reported second quarter income from continuing operations of $208 million or $0.56 per common share versus $285 million or $0.77 per common share a year earlier and $208 million or $0.56 per share in the first quarter of 2005.(x)

Operating earnings from continuing operations, which exclude foreign currency balance sheet translation effects and Other Specified Items (OSIs), were $286 million or $0.77 per common share in the second quarter, up from $230 million or $0.62 per share a year-ago and $223 million or $0.60 per share in the first quarter of 2005. Operating earnings for the second quarter of 2005 included mark-to-market gains on derivatives of $0.06 per share as compared to a loss of $0.08 per share a year earlier and a gain of $0.01 per share in the first quarter of 2005.

"The strong results for the second quarter reflect our steady progress against industry-wide cost pressures," said Travis Engen, President and CEO. "Operating results for three out of four business groups improved sequentially and, in fact, reached a record level in Packaging," he added.

http://www.alcan.com/

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