Alro posts slimmer turnover and profit

Aluminium producer Alro Slatina in H1 this year made 30% more in turnover as compared to the year-ago period. Considering the 37% inflation registered in the same time, Alro sales fell some 6-7% in real terms, compared with H1, 2000.

Alro’s H1, 2001 sales amounted to 4,167bn lei ($151.5 million), compared with 3,205bn lei ($160 million) in H1, 2000. The H1 turnover was 105bn lei higher than forecast in the Revenue and Expenditure Budget.

The budget had been cut a couple of weeks before and finalised three days ago, due to the drop in the aluminium price worldwide. “We produced and sold the same amount of aluminium as in H1, last year.

It was only natural that the results in real terms should be about the same as in 2000, considering that the effects of the drop in aluminium price will only start to show in H2, this year,” Marin Nitu, Alro’s economic manager, told Ziarul Financiar.

According to the new budget, total revenues will no longer amount to 9,558.53bn lei at the end of the year, as estimated in the previous budget approved by the General Assembly of Shareholders in April, but they are expected to drop to 9,120.69bn lei instead.