Copper and aluminium prices double Iproeb income

Iproeb Bistrita, a producer of electrical cables, in the first half of the year reached net income worth 1.77m euros (6.26m RON), almost twice the net income it registered during the corresponding period of last year. The company’s turnover surged by 30%, to 16.2m euros (57.4m RON). In the first six months of last year, Iproeb had posted turnover worth 12.5m euros (45.8m RON), and net income of 0.9m euros (3.29m RON). Income growth was primarily triggered by the supply policy the company embraced. Iproeb secured the necessary stocks of copper and aluminium at the beginning of the year, at lower prices, and benefited from the increase in retail prices. Copper and aluminium prices have registered spectacular growth since the beginning of the year, reaching record highs in May.