Alcan reports quarterly profit

The world’s second-biggest aluminium maker Alcan has reported its biggest quarterly profit in at least 14 years on higher prices, sales and currency gains.

Net income in the second quarter was 274.6m, compared with a loss of €76m, a year earlier, Alcan said in a statement.

It benefited from a 22% increase in the average price of aluminium on the London Metal Exchange in the quarter, led by demand from China and an improving global economy.

Its aluminium is used in products such as foil, appliances, cars and trains. Acquisitions contributed €2.07bn to sales, chief financial officer Geoffrey Merszei said.