Alro Slatina profit, up by 85 pct in Q1

Alro Slatina aluminium manufacturer (west of Bucharest) recorded a Q1 2010 net profit of RON 50.526 million, up by 85 percent from Q1 2009, according to data submitted to the Bucharest Stock Exchange (BVB).

The net turnover amounted to RON 414.16 million, 6.46 percent higher than the one recorded in Q1, 2009 of RON 389 million. The total revenues amounted to RON 469.885 million (plus 25.28 percent), while expenditure totalled RON 408.184 million (plus 17.39 percent).

Alro, the largest aluminium manufacturer in Central and Eastern Europe, provided a total production of electrolytic aluminium of 228,000 tonnes and carried out an investment programme of 15.28 million US dollars.

The budget was submitted for approval to an extraordinary General Shareholders’ Meeting of April 30. Together with its budgetary investment in its alum refinery, Alum Tulcea, amounting to 6.39 million US dollars, the total value of the company’s 2010 investment in the two facilities will near 21.6 million US dollars.