You are here

MAI: Profits of €8.3m against the crisis

25/11/2008 14:46
Muskita Aluminium achieved profits of €8.26 million despite the recession in the construction sector in Cyprus and overseas. In the corresponding period of 2007, the Company had enjoyed profits of €8.05 million. This increase is mostly attributable to the increase in its turnover from €48.7 million to €50.2 million. In Cyprus, the turnover increased to €34.7 million from €30.2 million, while in Europe it fell from €18.1 million to €15.2 million. The administrative expenses dropped from €3.3 million to €2.9 million. For the full year 2008, Muskita expects that the results will be equally satisfactory. In 2007, the Company had recorded profits of €10.68 million.