Alcoa sees strongest quarter in company history

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Manufacturing News, Source : TheManufacturer.com
Published : 11 Apr 2007 11:35
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Alcoa sees strongest quarter in company history

The Aluminium giant Alcoa has seen profit sore by 9 per cent in results released today

According to figures released today, Alcoa has announced its strongest first quarter in company history with revenue up by 11 per cent to $7.9 billion compared to figures for the same period the previous year. The increase is largely due to higher global metals prices and the rise in sales to the aerospace, building and construction, and industrial product markets.

Cash from operations in the first quarter rose to a record $527 million: a more than $700 million improvement from the first quarter of 2006.

Alcoa Chairman and CEO Alain Belda said: “Alcoa have delivered another strong quarter of top and bottom line growth, productivity improvements in cost of goods and overhead, and a dramatic improvement in cash flow from last year’s first quarter. Our focus on higher value-added solutions, such as aerospace products, and productivity programs helped to continue our momentum this quarter.

“The momentum we built last year is carrying through in disciplined capital and portfolio management, growth projects coming on-stream, and continued improvement in our strong downstream operations,” he added. “Again, we have delivered a strong quarter while also investing in projects that will generate strong returns for years to come.”