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FINANCIAL NEWS
Bahrain- Alba’s net income down 21.9 in Q2
02 Aug 2011
(MENAFN) Aluminum Bahrain (Alba) stated that net income went down by 21.9 percent in the second quarter on unrealized derivative gains, reported Reuters.
The owner of the world’s fourth-largest aluminum smelter said that net income stood at USD185 million, down from last year’s USD237 million.
As for sales, Alba reported USD645 million worth of sales in the second quarter, an increase from last year’s USD534 million.
Alba’s CEO commented saying that the company suffered for the social and political challenges that happened recently, in a reference to the unrest in the Arab world in general and in Bahrain in specific. However, the CEO said that Alba showed a strong resilience to circumstances.
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