MELBOURNE Aug 10 (Reuters) - Australia's Alumina Ltd (AWC.AX: Quote) returned to the black in the first half of 2010 as aluminium demand recovered, but the result was well below analysts' forecasts.
Alumina reported underlying earnings after tax of $22 million for the six months to June 30, up from an underlying loss of $10 million a year earlier.
Analysts on average were expecting an underlying profit of $48 million.
Alumina is a 40 percent partner in the Alcoa World Alumina and Chemicals (AWAC) joint venture with Alcoa Inc (AA.N: Quote).
For the full year, analysts are expecting underlying earnings after tax of A$134.6 million, according to Thomson Reuters I/B/E/S, rebounding from last year's underlying loss of A$2.2 million.