Bahrain: Alba posts solid results; profit hits $1bln for second year

Bahrain: Alba posts solid results; profit hits $1bln for second year

Bahrain - Aluminium Bahrain, one of the world’s largest aluminium smelters, has registered a profit of BD376.7 million ($1.02 billion) for the first nine months, up 39.2% over BD270.7 million ($720 million) last year.

Announcing its results for the nine-month period ended September 30, Alba said this is the second consecutive year when its profit has hit $1 billion.

The company reported basic and diluted earnings per share of fils 266 versus 191 fils for the same period in 2021. Alba’s total comprehensive income too posted growth hitting BD416.1 million ($1.1 billion), up 51% YoY, compared to BD275.5 million ($732.7 million) last year.

Its gross profit for the nine-month period stood at BD465 million ($1.23 billion) versus BD361.5 million ($961.5 million) in the same period of 2021 – up 28.6% YoY, it stated.

Alba had generated a revenue of BD1.37 billion ($3.66 billion) for the January to September period vs BD1.06 billion ($2.82 billion) last year, thus posting a 29.9% growth.

On its Q3 results, the aluminium giant said its profit for the three-month period fell by 62% to hit BD48 million ($127.6 million) compared to BD125.9 million ($335 million) last year, while its basic and diluted earnings per share stood at 34 fils versus