BUSINESS INFORMATION - U.S. aluminum giant Alcoa on Wednesday, swung into profit

BUSINESS INFORMATION - U.S. aluminum giant Alcoa on Wednesday, swung into profit in the third quarter after three consecutive quarters of losses, in a positive initial report quarterly earnings season, the U.S. company.

The company says net profit 77 million dollars, or eight cents per share in the quarter ended September, compared with a net loss for the second quarter of 454 million U.S. dollars or 47 cents per share.

Alcoa is the first company in the blue-chip Dow Jones Industrial Average which announced results for the three months to 30 September. Alcoa is expected to report losses excluding special things including nine cents per share.

Revenues for the quarter was 4.6 billion U.S. dollars compared with 4.2 billion U.S. dollars in the second quarter, up nine percent, Alcoa said in a statement.

"We take the financial measures and operational in the first half of this year, which has a strong positive impact on cash position and our profit," said Alcoa chief executive Klaus Kleinfeld.

"Although the currency and energy is not profitable, our performance this quarter shows that Alcoa resistant to weather the economic storm and form a very good profit when the market recovers," he said.

In the second half of 2009, there were signs that key markets the company operates in a stable condition, he said.

"Because of low inventories at distributors and increased delivery, the premium is to increase regional and global aluminum consumption is expected to rise 11 percent in the second half of 2009," the statement said