Alchevsk Iron & Steel Posts Strong April-May Results.
25 July 2008
The company (ALMK: HOLD) posted sales of $424.3m in 5M06, up 5.6% yoy. EBT for the same period was $11.2m, down 80% yoy. Andriy Gostik: Given that ALMK posted 1Q sales of $188.1m and EBT of $0.8m, the company underwent a significant recovery in April-May compared to the first quarter. We project sales of $1,161.5m this year, up 17% yoy, but net margin of only 4% as opposed to 8% in 2005.
