Bahrain's Alba says Q2 income drops 42%

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Aluminium Bahrain (Alba) on Sunday said its second-quarter net income dropped 42 percent on unrealised derivative gains as well as lower metal prices.

The smelter made a second-quarter net profit of BD20.7m ($54.91m) compared with BD35.6m in the corresponding period in 2012, Alba said in an emailed statement.

Second-quarter sales reached BD195.5m, down from BD196.5m in the prior-year period.

The company's board has recommended an interim cash dividend of 14 fils per share, the statement added.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Bahraini investor

This is very disappointing .. I think the price may drop to maintain a 7% dividend yield to follow the market average.

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Shuttered banks, ATM queues and $77 daily limits: Greece plunges into crisis

Breakdown in talks between Athens and its creditors plunged the...

Malaysia fund's $4.5bn rescue may weigh on Abu Dhabi's IPIC

Malaysia fund's $4.5bn rescue may weigh on Abu Dhabi's IPIC

International Petroleum Investment Co came to the aid of Malaysia...

Debt market beckons as Saudi bourse opens to foreigners

Debt market beckons as Saudi bourse opens to foreigners

Corporate bond issuance in the kingdom is the most active in...

Most Discussed