Sun, Nov 08 2009

Alkomet reveals 33 per cent drop in sales for trimester

Fri, May 01 2009 11:05 CET byNick Iliev 1011 Views
Alkomet reveals 33 per cent drop in sales for trimester

Aluminium foil
Photo: Wikipedia

Alkomet AD has registered a 33 per cent drop in retail sales, down to 38.3 million leva on an annual basis and registering a 1.53 million leva loss for the first trimester of 2009. This contrasts sharply with the 1.17 million leva profit recorded for the same period - January to March 30 in 2008 - according to a company press release, quoted by Investor.bg.

Alkomet is a Shoumen-based company, specialising in aluminium production - sheets, pipes and others.
 
Staff expenses have also being sliced by 7.82 per cent down to 2.63 million leva, for the period January – March 30 2009.
 
The drop in sales is attributed to the drastic slump of demand in the domestic market, down by 77.1 per cent, a drop which intensified in the last trimester of 2008.
 
Another major factor affecting the company is the crisis in the car manufacturing and constructions sectors.
 
Foreign markets constitute as much as 93.84 per cent of the turnover of the company because Alkomet exports its raw materials to 23 countries. Its main business partners are Germany, Italy, France, Poland, Austria, Belgium, Denmark and the Czech Republic. Alkoment has reported that in spite of the economic downturn and the decrease in sales, it has a growing market share in Spain, Switzerland, Mexico and Algeria. 
 
For the last 12 months, Alkomet's market capitalisation has decreased by 82.53 per cent, down to 27.9 million leva.

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