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.

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.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

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.

All comments are subject to approval before appearing

Further reading

Features & Analysis
First bank merger in 20 years sets Saudi Arabia up for more deals

First bank merger in 20 years sets Saudi Arabia up for more deals

Q&A look at what the planned merger of HSBC and RBS’s Saudi ventures...

A natural move: How Dubai Chamber is strengthening its ties in Latin America

A natural move: How Dubai Chamber is strengthening its ties in Latin America

With vast resources and more than half-a-billion people, the...

If Saudi future's so bright, why can't these banks find buyers?

If Saudi future's so bright, why can't these banks find buyers?

No big-name global banks eager to buy stakes in Saudi banks,...

Most Discussed
sponsoredTracking