Alba’s net income drops 42 per cent in Q2

Alba’s net income drops 42 per cent in Q2:

"Aluminium Bahrain (Alba) has posted a net income BD20.7 million ($55 million) for the second quarter of the year, a drop of 42 per cent from BD35.6 million of Q2 2012, driven by unrealised derivative gains as well as lower metal prices.

The company posted a net income of BD61.2 million ($163 million) for the first half of 2013, up by 7 per cent from BD56.9 million for the same period in 2012 due to strong overall operational performance, which was partially offset by lower LME (London Metal Exchange) prices.

Alba’s sales for the first six months of 2013 were BD382.6 million versus BD 383 million in H1 2012, down by 9 basis points on the back of lower LME prices. Sales for the second quarter of 2013 reached BD195.5 million, down by 53 basis point as compared to BD196.5 million for the same period in 2012."

'via Blog this'