ALCOA OF AUSTRALIA REPORTS INCREASED EARNINGS
Alcoa of Australia Ltd <AA.S>, owned
51 pct by the Aluminum Co of America <AA>, said net profit rose
to 20.2 mln dlrs in the first quarter of 1987 from 0.8 mln in
the same 1986 period.
    Sales revenue climbed to 300.9 mln from 233.0 mln. The
company paid 36.5 mln income tax compared with 4.8 mln.
    Capital expenditure was 24.0 mln, against 33.4 mln. Alcoa
spent 15.7 mln on its new Portland aluminium smelter compared
with 25.8 mln the year before. Over 65 pct of the smelter's
first potline is on stream and by the second quarter it will be
producing at the full annual rate of 150,000 tonnes a year.
 REUTER
