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Alro SA (BSE: ALR), the largest aluminium producer in Central and Eastern Europe, today announces the stand alone results for the first quarter ended 31 March 2009.
Alro SA (BSE: ALR), the largest aluminium producer in Central and Eastern Europe, today announces the stand alone results for the first quarter ended 31 March 2009. The Company reports a net profit of USD 8.3 million, compared to a loss of approximately USD 15.8 million, registered in Q4 of 2008. Alro’s turnover for Q1 2009 was USD 118.7 million, compared to a USD 153.5 million turnover in Q4 of last year. The Company’s total primary aluminium production for Q1 2009 was of 56,196 tonnes (Q4 2008: 70,422 tonnes) and production of flat rolled products amounted to 6,076 tonnes (Q4 2008: 6,045 tonnes).
The financial results for Q1 of 2009 are a direct result of the cost reduction plan implemented by the Company last year which focuses on core activities and services, relevant business assets and highest levels of product quality and short delivery times. The Company reduced raw material costs and renegotiated contracts with suppliers, where appropriate, re-used as much scrap aluminium as possible and cut down administrative expenses.
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