Alcan announce rise in Q4 net profits

Aluminum producer Alcan today reported an increase in fourth-quarter net profits and said higher metal prices helped offset the effects of the fall in the value of the dollar.

Net income in the quarter rose to $143m (€112m), compared with the $26m (€20m) figure for the same quarter a year ago. The Canada-based company said higher metal prices, cost cutting, new business and favorable tax adjustments helped offset weakness in the US dollar.