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
Should the Gulf introduce VAT?

Should the Gulf introduce VAT?

The GCC’s plans to bring in value-added tax were withdrawn as...

5
Why are some of the world's biggest banks leaving the UAE?

Why are some of the world's biggest banks leaving the UAE?

Large Western banks have been selling off their local assets...

2
How Gulf banks are helping to underwrite region's aviation boom

How Gulf banks are helping to underwrite region's aviation boom

Figures from Airbus show that 47% of MidEast aircraft deals in...

2
Most Popular
Most Discussed