Aluminium Bahrain reports results for the first quarter of 2013

Aluminium Bahrain B.S.C has announced its financial results for the first quarter of the year 2013. Alba's sales for the first quarter of 2013 reached $498m, up by $2m from $496m in Q1 2012 due to strong physical premiums and favourable management performance despite low LME prices. The company has registered a Net Income of $108m vs. $57m for the same period in 2012 - an increase of 89% YoY.

In March 2013, Alba paid $52m as the final dividend for 2012 bringing the total dividend for 2012 to $105m.

Commenting on Q1 2013 results, Alba's Chief Executive, Tim Murray, said, "Alba was able to deliver a solid quarterly financial performance despite tough LME market conditions. We were able to capitalize on a significant increase in product premiums on the back of a strong operational performance."

The Chairman of Alba's Board of Directors, Mahmood Hashim Al Kooheji, added, "The company's focus on strengthening its competitive edge through operational improvement has led to a big jump in production which contributed directly to the bottom line. I would also like to express my sincere appreciation to the team at Alba for their efforts to improve overall safety performance."

Alba's Chief Executive Officer, Tim Murray, Acting Chief Finance & Supply Officer, Ali Al Baqali and Investor Relations Manager, Eline Hilal will be holding a conference call on Wednesday May 8, 2013 to discuss Alba's performance for the first quarter of 2013 as well as outline the company's priorities for the remainder of this year.