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Tue 11 Nov 2014 05:41 PM

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Aluminium Bahrain Q3 profit jumps 502%

Smelter made a third-quarter net profit of $78.25m in the three months to Sept. 30

Aluminium Bahrain Q3 profit jumps 502%

Aluminium Bahrain (Alba), owner of one of the world's largest aluminium smelters, reported a 502 percent surge in third-quarter net income on Tuesday as sales rose and metal prices increased, it said on Tuesday.

The smelter made a third-quarter net profit of 29.5 million dinars ($78.25 million) in the three months to September 30, up from 4.9 million dinars in the year-ago period, Alba said in an emailed statement.

Third-quarter sales reached 223.2 million dinars, up from 183.3 million dinars in the corresponding period of 2013.

SICO Bahrain had forecast Alba to make a net profit of 15.6 million dinars.

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