Bahrain's Alba says Q2 income drops 42%

Aluminium Bahrain announces decline on unrealised derivative gains, lower metal prices

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.

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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.

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