Alro posts 15% increase in profit

Net profit of the largest Romanian aluminium producer Alro Slatina increased by 15 percent last year, reaching RON 438.3 million (€131.33 mln), although profits dropped 3 percent to RON 2.26 billion (€667.2 mln), shows the company’s preliminary financial report.

Alro’s profit rose to RON 380.86 mln (€141.2 mln) in 2006 with total income at RON 2.33 bln (€0.66 bln).

Expenses in 2007 dropped 7 percent, to RON 1.73 bln (€518.38 mln) from RON 1.86 billion year-on-year, while revenue was down 7 percent, to RON 2.04 bln (€611.27 mln) from RON 2.2 billion in 2006.

Dutch group Vimetco controls 84 percent of Alro’s capital and Fondul Proprietatea has 10 percent. The company is listed on the Bucharest Stock Exchange.