Alcomet Earns Over 3 Million in First Quarter

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Alcomet AD-Shumen registered a 3.02 mln leva pretax profit for the first quarter of 2007 versus 1.236 mln leva a year ago, the company’s financial report published by BSE shows.

Net revenues were up 63.5% to 68.4 mln leva compared to 41.84 mln leva in the first quarter of 2006. Exports totaled 49.97 mln leva, while sales on the domestic market were worth 17 mln leva. Financial revenues were down from1.5 mln leva to 414,000 leva.

Economic elements costs jumped 59.4% to 64.28 mln leva. Financial costs were down to 1.5 mln leva from 1.8 mln leva in the first quarter of 2006.

Alcomet has a core capital of 17.953 mln leva and its own capital is in the amount of 65.83 mln leva.
Its main shareholder is Alumetal AD with 74.80% of its capital .FAF Metal Sanayj Ve Ticaret AS-Turkey holds 16.93%.

Alkomet stock was up 1.79% yesterday to an average of 11.40 leva/share. The company’s market cap currently stands at almost 205 mln leva.

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