Rising aluminium prices help Rusal profit

Profits at Rusal, the world's biggest aluminium producer, more than tripled last year on the back of rising aluminium prices and global economic recovery. Net income surged to US$2.9 billion from US$841 million in 2009. Rusal paid just US$144 million in income tax, less than 5 per cent of pre-tax earnings. In its annual results statement, Rusal admitted a 'significant portion' of its profits came from subsidiaries based in tax havens.