aluminium bahrain b.s.c (alba) presents its financial results for q3 and 9 months of 2017. the company’s top-line and bottom-line were driven by higher lme prices and the speed recovery of line 5 operations.
the company reported a total sale of bd 235.3 million (us$ 625.8 million) in q3 2017, up 35% yoy from bd 174.3 million (us$ 463.5 million) in q3 2016. total sales for the nine months of 2017 stood at bd 605 million (us$ 1.609 billion), up by 22% yoy, from bd 496.5 million (us$ 1.32 billion) for the same period in 2016.
the company reported a net income of bd 25.8 million (us$ 68.5 million) in q3, up 80% yoy from bd 14.3 million (us$ 38.1 million) in q3 2016. for the 9 months of 2017, net income registered 98% increase yoy to bd 69 million (us$ 183.5 million) from bd 34.8 million (us$ 92.6 million) for the same period in 2016.
alba chairman shaikh daij bin salman bin daij al khalifa said: “i would like to thank all alba employees and contractors for restoring line 5 safely. as we move ahead, we also look forward to make solid progress in our flagship development - line 6 expansion project.”
alba’s chief executive officer tim murray added: “alba set a new benchmark on line 5 recovery which translated into strong operational results. i would also like to thank our employees and contractors for maintaining safe operations through a difficult summer.”
the world consumption rose by 6 per cent year-on-year (yoy). asian demand continues to be strong, up by 6 per cent yoy, supported by chinese consumption ( 7% yoy).
world production of aluminium was up by 7.5 per cent yoy led by the chinese output ( 13% yoy).