Romanian Alumil Sees More Than Double Profit In 2011

04.18.2011 By Florentina Dragu

Alumil Rom Industry (ALU.RO), the Romanian unit of Greek aluminum processing group Alumil Mylonas, estimates a net profit of 3.48 million lei (EUR1=RON4.0869) for 2011, more than double on the year, the company said in a statement Monday.

Alumil Rom Industry (ALU.RO), the Romanian unit of Greek aluminum processing group Alumil Mylonas, estimates a net profit of 3.48 million lei (EUR1=RON4.0869) for 2011, more than double on the year, the company said in a statement Monday.

In 2010, Alumil posted net profit of RON1.41 million.

The company estimates total revenues will reach RON70.3 million in 2011, slightly up from RON69.6 million a year earlier.

Alumil has a share capital of RON6.2 million split up into 31.2 million shares with a face value of RON0.2 each.

The company is majority owned by the Alumil Group, with a 55.9% stake, while Board president Michail Sotiriou holds 23.95% of its shares.

On the Bucharest bourse April 14, Alumil closed down 1.41% at RON1.4 a share.