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Bahrain's Alba reports $41.95m Q4 2015 net loss

Alba's net loss for the three months to December 31 was $41.95m (BHD15.8m), according to a statement

Aluminium Bahrain has reported a net loss for Q4 2015.
Aluminium Bahrain has reported a net loss for Q4 2015.

Aluminium Bahrain (Alba) has reported a net loss for the fourth quarter of 2015.

The owner of the one of the world's largest aluminium smelters swung to the loss after being hit by lower prices for metal and a one-off contribution to an early retirement scheme. 

Alba's net loss for the three months to December 31 was $41.95m (BHD15.8m), according to a statement. 

This compares with a net profit of $91.7m (BHD34.6m) in the corresponding period of 2014 and the forecast by a SICO Bahrain analyst, who predicted a quarterly net loss of $9.8m (BHD3.7m).

Alba made a net profit of $158.8m (BHD59.9m) in 2015 - down from the $255.9m (BHD96.5m) recorded for the previous year, the statement revealed. 

 

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