The firm said among the reasons for the figure was a result of higher aluminium prices.

In a letter to the Bolsa de Comercio de Buenos Aires to the results of its fiscal year ended June 30, 2011, Aluar said that in the fiscal fourth quarter it earned ARG196.3M ($46.8M).

Aluar's fiscal year begins in July.

The group exports about 80% percent of its production, including primary aluminium and semi-finished and finished products for the transport industries, construction, packaging, electrical conductors and kitchenware.