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FINANCIAL NEWS
Aluminum Bahrain net income declines in Q2
24 Jul 2016
(MENAFN) Aluminum Bahrain (Alba) posted a 45.4 percent drop in second-quarter net profit, which reached USD43.2mn, compared with a USD78.45mn in an earlier period.
However, the firm reported weak earnings in the previous three quarters, due to a collapse in international aluminum prices.
Accordingly, the company proclaimed its board had proposed not to offer a cash or share dividend for the period.
Meanwhile, Alba aims to become the world’s main single aluminum complex, boosting its annual output by 540.000 tons to 1.5mn tons.
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