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FinancialNews
28-10-19
Alba increases sales volumes by 51 percent in Q3 of 2019
(MENAFN) Aluminum Bahrain (Alba), in its way to be the world's largest aluminium smelter with Line 6 expansion, said it has registered double-digit growth in its sales and production volumes during the third quarter of 2019.
Alba said, announcing the results, the sale surged by 51 per cent to hit 376.025 metric tonne (MT) year-on-year while the production volumes topped 385.396 MT, registering a 53percent jump over the previous year.
The aluminium giant said its top-line and bottom-line for the third quarter was primarily impacted by lower LME price [US1.761/MT vs. US2.056/MT - a drop of 14percent Year-over-Year (YoY) in Q3; US1. 804/MT vs. US2. 158/MT - a drop of 16percent YoY for the Nine-Months], lower premiums - and offset by higher sales volume.
The company produced a profit and total comprehensive income of USD28.5 million in Q3 versus USD38.1 million for the same period in 2018, down by 25percent YoY.
MENAFN2810201900450000ID1099188339
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