US firm Alcoa has posted profit after a long time
The aluminum making firm of US, Alcoa has posted profit because of the increased sales in the first quarter of this year. In the first quarter of this year the company has earned a profit of 136 million dollars.
The US firm had faced a loss of 454 million dollars just a year ago and a loss of 201 million dollars in the last three months of the previous year.
Despite of the price fall of aluminum, the sales of Alcoa rose by at least 25% reaching to 5.2 billion dollars from 4.2 billion dollars.
Alcoa has also reported a forecast of a slight increase in the global demand of the aluminum in this year.
According to the chief executive of the Alcoa, Klaus Kleinfeld the manufacturing giant has improved its revenues and profits to maintain its solid cash position.
This is the first firm to report quarterly earnings in the Dow Jones industrial index; hence its report is seen as a forecast of the market.
On the other hand some of the economists are not so optimistic about the success of Alcoa because of the falling price of aluminum.