Laminorul Braila Posts RON29.73M In First-Quarter Net Profit

05.13.2011 By Andrei Circhelan

Romanian metal alloy producer Laminorul Braila (LMRU.RO) Friday reported a net profit of 29.73 million lei (EUR7.24 million) in the first quarter, compared to a loss of RON6.03 million in the similar period of 2010.

Revenue jumped to RON264.4 million in January to March, from RON48.94 million in the same interval of 2010, while expenditure widened to RON234.66 million, from RON54.97 million.

The company is 90.91% owned by Donau Commodities, part of Russian steel group Mechel.

In Romania, Mechel also owns Mechel Campia Turzii (INSI.RO), Mechel Targoviste (COS.RO), Ductil Steel Otelu Rosu. (EUR1=RON4.106)