Alfa Plam 2012 profit at RSD 1 billion

Vranje-based furnace and stove manufacturer Alfa Plam has announced its business results for the previous year, which are much above the expectations of the market.

Alfa's business revenue in 2012 was at RSD 4.3 billion, up 6.5 percent from the year before, whereas sales grew intensively to somewhat in excess of RSD 4 billion.

Owing to the revenue growth, decrease in the costs of materials and the rationalization of business, the company's business profit amounted to 949.3 million dinars against RSD 380.5 million generated a year earlier.

The net profit reached as high as RSD 1.04 billion, up 115.6 percent from 2011.

When it comes to financial structure, Alfa increased its debt a bit.

The majority owner of Alfa Plam is the Amasis company, which has recently increased its stake in that company to 54.5 percent through a takeover bid.

With the latest share price of RSD 6,595, Alfa Plam's market cap is at RSD 1.15 billion (EUR 10.3 million).