Romania's Alumil Rom Industry posts 56% drop in first half profit

Alumil Rom Industry, producer and distributor of aluminium extrusion and profiles for architectural use in Romania, registered a net profit of 230,954 lei ($303,600/224,700 euro) in the first six months of 2017, down by 56 per cent.  The company said in an unaudited financial statement posted on the Bucharest Stock Exchange BVB website.

Alumil Rom Industry‘s sales revenue increased 3.22 per cent to 28.18 million lei in the first six months of this year from 27.30 million lei a year ago.

The company made an operating profit of 592,012 lei through June, a fall of 38 per cent. The gross margin decreased 1.39 per cent to 8.51 million lei in the first six months of 2017 from 8.63 million lei in the first six months of 2016.

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The company had total assets of 73.50 million lei on June 31 from 78.44 million lei recorded at 31 December 2016.

“Expenditure on raw materials recorded an increase of 8%, while commodity spending remained at the same level as in the first half of last year, which was directly linked to the evolution and structure of turnover,” the company said.

Alumil Rom Industry is the subsidiary of Alumil Aluminum Industry of Greece, an international group active in the aluminium extrusion industry.