Alumil, the local unit of Greece’s Alumil Mylonas, estimates a pretax profit of RON1.63 million, more than double from RON0.76 million in 2013, the company said in its revenue and expenditure budget approved Monday.
Sales are projected at RON63.95 million, down 10% from RON71.1 million in the previous year.
Alumil expects its operating costs will fall 11% on the year to RON62.4 million in 2014, while operating income is estimated to decline 9% to RON65 million.
Also on Monday, Alumil approved paying out its shareholders a gross dividend of RON0.64 a share from earlier profits. The total dividend to be distributed reaches RON20 million.
This is the company’s first dividend payment since 2010.
Alumil Mylonas holds 55.9% in Alumil, while the company’s president Michail Sotiriou owns a 23.9% stake.
At around 2:00 pm Monday, Alumil’s shares traded down 0.33% at RON1.79 in Bucharest, valuing the company at RON55.9 million. (EUR=RON4.4549)