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Wed 12 Feb 2014 06:51 PM

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Bahrain's Alba posts 74% drop in Q4 net profit

Aluminium Bahrain says it made $36m profit during three months to Dec 31

Bahrain's Alba posts 74% drop in Q4 net profit

Aluminium Bahrain (Alba) reported a 74 percent drop in fourth-quarter net income on Wednesday after a one-off gain from a year earlier was not repeated.

Net income for the final three months of 2013 was BD13.7 million ($36.3 million) versus BD52.6 million in the corresponding period of 2012, Alba said in a statement.

Alba's settlement with Alcoa Inc had bolstered its earnings in the fourth quarter of 2012, the Bahraini firm said. It did not specify the value of this settlement.

Alba's board has proposed increasing its total dividend payout for 2013 by 28 percent to BD50.7 million. It did not state how much this was per share.

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