Muskita Aluminium lifts 1H07 profit by 26%

Muskita Aluminium Industries Plc (MAI) reported a highly satisfactory 25.5% increase in net profit to EUR 6 mln in the first half of 2007 compared to EUR 4.78 mln in the first half of 2006 and total profit of EUR 9.4 mln for the whole of 2006.

The satisfactory performance was delivered on the back of higher sales, up 16% YoY, an improvement in the gross profit margin from 30.2% to 30.63%, cost increases remaining under control, edging up 3% as production and administration costs were kept in check.

The company issued a forecast promising that the pace of profit growth is expected to continue for the whole year, meaning that the company should have no difficulty in meeting analyst expectations for total 2007E profit of EUR 11.75 mln.