Slovak aluminium firm first half profit up

Slovakia's main aluminium producer Slovalco posted a 1.6 percent rise in January-June pre-tax profit as higher prices and lower costs offset falling output and sales, the company said on Monday.
Slovalco, run by Norway's Norsk Hydro, said its first-half gross profit rose to 824.08 million crowns ($26.3 million), from 811.07 million in the same period last year. The figures are based on Slovak accounting standards.
Slovalco Finance Director Rudolf Knapp said in a statement that the results were positively influenced by higher aluminium prices on the London Metal Exchange and lower costs.
The main negative factors were the declining dollar rate against the Slovak crown - most of Slovalco's sales are in dollars - and weak markets with aluminium products.