Alba reports 70% drop in Q3 2015 net income
Net income for the first three months to Sept 30 was $23.07m, compared to $97.09m for the same period in 2014
Aluminium Bahrain (Alba) recorded a 70% decline in net income for the third quarter of 2015, Arabian Business has reported.
Net income for the three months to Sept 30 was $23.07m (KWD8.7m), compared to $97.09m (KWD29.5) for the same period in 2014, Alba revealed in a statement.
SICO Bahrain forecast the firm to make a quarterly profit of $29.9m (KWD9.1m) when polled by Reuters.
Tim Murray, chief executive, Alba, said: "Despite the collapse of all-in-aluminium prices, Alba has been able to maintain its strong intrinsic performance in a challenging market."