16 AUGUST 2011balkans
Romania's Alumil Rom Industry net profit increased
Edited by : AL CIRCLE
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Alumil Rom Industry made public its 2Q 2011 results under RAS and some key 1H 2011 indicators under IFRS. 2Q sales contracted 11% yoy and were significantly bellow our estimates. We had forecasted a rebound in yoy terms on slightly better market conditions (retailers' expansion) and mostly on a base effect, considering the already depressed 2Q 10 level. Margins came bellow our estimates on higher costs of raw materials (aluminium), but were better on yoy terms on lower costs.
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