Alcomet announced earnings results for the first quarter ended March 2016. For the quarter, the company reported net profit soared to BGN 7.5 million ($4.4 million/EUR 3.8 million) in the first quarter from BGN 1.0 million in the same period last year 2015. Sales revenue fell to BGN 79.9 million in January-March 2016 from BGN 85 million a year ago. The sharp increase in profit came as a result of a decline in the costs of goods sold, which led to a higher gross profit.