The stock exchange capitalisation of aluminium producer Alro Slatina has increased by 313 million euros in the last couple of days reaching a total of 1.28 billion euros yesterday. Alro's shares resumed trading more than 4 months after they were suspended in order to complete the merger with Alprom Slatina. In terms of capitalisation, Alro became the third-largest company on the Stock Exchange after Petrom and BRD, and replaced Banca Transilvania in the third position. Another company whose market value has recently exceeded the 1 billion-euro mark is Transelectrica, whose capitalisation has doubled in less than 6 months. Alro's shares increased 30%, but amid very low liquidities, with transactions totalling just 12,000 euros. The spectacular increase seen by Alro's shares was also due to the exceptionally good financial results reported by the company last year. Alro's net profit increased over 3.3 times to 380 million RON (108 million euros), amid a 36% increase in turnover to 2.19 billion RON (623 million euros). The company proposed to its shareholders that 0.389 RON/share be distributed from the net profit derived in 2006, with the yield for dividends standing at around 6.5%, at a 6 RON/share price at the close of yesterday's trading. At the end of last year, Alro's net assets stood at 1.45 billion RON (428 million euros). Following the merger, the company's share capital stands at 356.9 million RON (105 million euros), with the majority shareholder being the Swiss group Marco holding around 88.8% of the shares.
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