01 AUGUST 2013www.constructionweekonline.com
Alba achieves first-half profit growth
Edited by : AL CIRCLE
1 min read
Aluminium Bahrain has said that its net profit grew by 7% during the first half of 2013, despite the fact that its sales were largely flat at $1.02bn.
The company said that it achieved a 1.9% year-on-year increase in sales volumes, despite a general drop in aluminium prices worldwide. Aluminium prices on the London Metals Exchange have dropped by 7% during the second quarter of the year to $1,834 per metric tonne, although worldwide demand has grown by 4.8% year-on-year fuelled by increased consumption in South East Asia - most notably Thailand (up 21%) and China (9%).
Alba chief executive Tim Murray said: "Despite challenging global macroeconomic conditions coupled with lower LME prices, Alba was able to deliver a healthy financial performance supported by strong operational performance.
|Our focus on Continuous Improvement Programme and Operational Excellence initiatives will enable the company to maintain its competitive position and improve its overall performance."
The company said that it achieved a 1.9% year-on-year increase in sales volumes, despite a general drop in aluminium prices worldwide. Aluminium prices on the London Metals Exchange have dropped by 7% during the second quarter of the year to $1,834 per metric tonne, although worldwide demand has grown by 4.8% year-on-year fuelled by increased consumption in South East Asia - most notably Thailand (up 21%) and China (9%).
Alba chief executive Tim Murray said: "Despite challenging global macroeconomic conditions coupled with lower LME prices, Alba was able to deliver a healthy financial performance supported by strong operational performance.
|Our focus on Continuous Improvement Programme and Operational Excellence initiatives will enable the company to maintain its competitive position and improve its overall performance."
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