Monday 10 December 2018

Alba posts solid Q3 sales, production growth

MANAMA, October 9, 2017

Aluminium Bahrain (Alba), one of the world's largest smelters, managed to remain on course in the third quarter of 2017 with its sales and production volumes topping 247,540 metric tonnes (mt) and 253,475 mt, respectively.

For the nine months of 2017, the company sales volume reached 700,629 mt, down by 2.4 per cent year on year (YoY), while production dropped by 1.9 per cent to reach 706,869 mt due to the power outage incident in April, said a statement from the company.

In addition, Alba closed the third quarter and the nine months of 2017 with value-added sales averaging 59 per cent of total shipments.

Commenting on record sales and production volumes, Alba CEO Tim Murray said: "We are pleased with the solid third quarter performance on the back of the speedy recovery of Reduction Line 5."

"We are expecting a strong finish in the fourth quarter on the back of sound market demand," he added.

Alba's Q3 results will be made public on October 29 and also the company will be uploading the IR presentation on its Investor Relations section.-TradeArabia News Service

Tags: Bahrain | aluminium | Sales | Alba | production |

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