Aluminium Bahrain Returns To Q3 Profit

Alba’s income was boosted by a seven per cent increase in sales to 183.3 million dinars, with strong demand from Saudi Arabia.



Aluminium Bahrain (Alba) swung to a third-quarter net profit on higher sales to Saudi Arabia, the owner of the world’s fourth-largest aluminium smelter said on Wednesday.

Net profit for the three months to September 30 was 4.9 million dinar ($13 million) versus a net loss of 13 million dinars a year earlier.

Alba’s income was boosted by a seven per cent increase in sales to 183.3 million dinars, with strong demand from Saudi Arabia noted, and a 4.7 per cent hike in tonnes produced compared to the same months last year.

Despite the return to profit, Alba missed the estimate of local investment bank SICO Bahrain, which forecast third-quarter earnings of 10 million dinars.