(Alliance News) - ALA Spa reported Wednesday that in the first half of the year it reported a net profit of EUR5.8 million, up 66 percent from EUR3.5 million in the same period last year.

Value of production stood at EUR113.6 million, up 78 percent from EUR63.9 million as of June 30, 2022.

Ebitda amounted to EUR12.3 million from EUR7.1 million as of June 30, up 73 percent.

Ebit was EUR10.0 million from EUR5.8 million, up 72% from the first half of last year.

Net financial position as of June 30 is negative EUR33.2 million from negative EUR28.7 million as of Dec. 31, 2022.

Looking to the future, "Building on the excellent results achieved in the first part of the year, during the second half of the year the group will aim to achieve the challenging budget targets for 2023 and further strengthen its position among the world's top players in the sector," the company explained in a note.

ALA trades in the green by 0.8 percent at EUR13.40 per share.

By Claudia Cavaliere, Alliance News reporter

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