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.For all the latest industry news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.