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Aluminium Bahrain Q3 Profit Jumps 502%

Aluminium Bahrain Q3 Profit Jumps 502%

The smelter made a third-quarter net profit of BD29.5 million ($78.25 million) in the three months to Sept. 30, up from BD4.9 million in the year-ago period.

Aluminium Bahrain (Alba), owner of one of the world’s largest aluminium smelters, reported a 502 per cent surge in third-quarter net income on Tuesday as sales rose and metal prices increased, it said on Tuesday.

The smelter made a third-quarter net profit of BD29.5 million ($78.25 million) in the three months to Sept. 30, up from BD4.9 million in the year-ago period, Alba said in an emailed statement.

Third-quarter sales reached BD223.2 million, up from BD183.3 million in the corresponding period of 2013.

SICO Bahrain had forecast Alba to make a net profit of BD15.6 million.

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