Alumil Rom Industry Swings To RON0.6M Net Profit In 1Q

05.12.2011 By Florentina Dragu

Romanian aluminum processor Alumil Rom Industry (ALU.RO) Thursday said it swung to a net profit of around 595,000 lei (EUR145,132) in the first quarter, from a loss of RON306,000 in the year-earlier period.

Alumil, the local unit of Greek aluminum processing group Alumil Mylonas, reported total revenue of RON14.1 million in the first quarter, up 20% on the year, while overall costs rose 11% to RON13.4 million.

The company's turnover stood at RON12.5 million, up 17% from RON10.7 million in January to March 2010.

Alumil Mylonas holds 55.9% in Alumil, while the company's president Michail Sotiriou owns a 23.95% stake.

On the Bucharest bourse Thursday, Alumil closed flat at RON1.4 a share. (EUR1=RON4.0997)