Alba production, sales grow in Q3
Manama, October 6, 2013
Aluminium Bahrain continued to maintain a positive momentum in the third quarter of this year with both sales figures and production recording growth compared to the same period last year.
Alba’s sales increased 4.2 per cent year-on-year to reach 227,758 metric tonnes (mt) versus 218,507 mt in Q3 2012, while production increased by 10,377 mt to reach 230,058 mt as compared to the same period of 2012.
Sales figures for the month of September alone rose by 14.7 per cent to reach 94,000 mt, a statement said.
In addition, Alba continued to capitalise on the sound demand for value- added products and closed the third quarter of 2013 with an average of 66 per cent of total shipments versus 65 per cent for the same period in 2012.
Sales figures for the first nine months of 2013 inched up by 2.7 per cent year-on-year to 682,188 mt ahead of the company’s own forecast for the period. Production year-to-date was up 3 per cent, reaching 682,785 mt versus 663,214 mt for the same period in 2012.
Chief executive Tim Murray said: “Alba continues to push the envelope to maximise sales and cash flow. Even during this difficult LME environment, Alba continues to find ways to grow while competitors are reducing production.”
Alba will release its third quarter 2013 financial results and business outlook public on November 07. – TradeArabia News Service
More Industry, Logistics & Shipping Stories
- A. Schulman announces changes in EMEA team
- Abraaj buys into Turkish dairy firm Yorsan
- Morocco revives plan to sell stake in port operator
- Sabic opens new $126m research facility
- UAE women entrepreneurs set for growth
- Major cruise liner docks at Abu Dhabi port
- MAG boosts Iraq shipping capacity by 60pc
- Sabic to distribute $2.4bn dividends in H2
- Pearl diving 'regains popularity' in Bahrain
- AerCap to buy AIG aircraft leasing unit for $5.4bn