30 JULY 2013Gulfnews.com
Aluminium Bahrain’s net profit falls 42%
Edited by : AL CIRCLE
1 min read
Aluminium Bahrain, a Gulf Arab aluminum smelter, said second-quarter net profit fell 42 per cent on year as metal prices and sales declined.
Aluminium Bahrain, or Alba, made a 20.7 million Bahraini dinar ($55 million) net profit in the second quarter compared to 35.6 million dinars in last year’s second quarter, it said in an e-mailed statement.
The decline was the result of unrealised derivative gains and low metal prices, it said.
Sales for the quarter were 195.5 million dinar, down from 196.5 million dinar last year, it said.
The company, which is majority-owned by the Bahraini government, said its board has recommended an interim cash dividend of 14 Bahraini fils per share.
Aluminium Bahrain, or Alba, made a 20.7 million Bahraini dinar ($55 million) net profit in the second quarter compared to 35.6 million dinars in last year’s second quarter, it said in an e-mailed statement.
The decline was the result of unrealised derivative gains and low metal prices, it said.
Sales for the quarter were 195.5 million dinar, down from 196.5 million dinar last year, it said.
The company, which is majority-owned by the Bahraini government, said its board has recommended an interim cash dividend of 14 Bahraini fils per share.
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