FINANCIAL NEWS

Bahrain’s Alba posts $200m profit in H1

06 Sep 2010

(MENAFN) A senior official at Aluminum Bahrain (Alba), one of the largest aluminum smelters in the world, said that the company has registered a profit of $200 million during the first half of this year, Gulf Daily News reported.

Alba’s board of directors approved the distribution of quarterly profits worth $79 million to shareholders besides three percent of the company�s treasury shares. They also approved the amendment of the ownership percentage accordingly.

The board reviewed the reports from the Alba management team that covered the safety, operation, power stations, supply chain, and capital expenditures plan for 2011.

The company’s board comprises six directors appointed by Bahrain Mumtalakat Holding Company, which include Fawzi Ahmed Kanoo, Yusuf Abdulla Taqi, Shaikh Mohammed bin Khalifa Al Khalifa, Osama Mohammed Al Arrayedh, and David Meen.

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