Alba Q2 income jumps 65pc to BD29.1 million

Manama : Driven by higher sales volume and LME prices, Alba recorded a 65 per cent jump in its second-quarter profit for the year 2018, which also was positively impacted by Line 5 recovery in Q2 2017. LME prices recorded an increase of 18pc Year-over-Year (YoY). 

Net Income was BD29.1 million (US$77.4m) in the second quarter of 2018 versus BD17.7m (US$46.9m) for the same period in 2017. Earnings per share (EPS) in this quarter were fils 21 versus fils 12 in Q2 2017. 

Total Sales/Revenues rose 36pc YoY to BD244.0m (US$648.9m) from BD179.3m (US$476.9m) in Q2 2017. 

During the quarter, according to Alba, global physical demand remained healthy with world consumption up by 5pc Year-over-Year (YoY). Consumption in MENA surge by +9pc YoY driven by major infrastructure spending in Saudi Arabia (+20pc YoY). Consumption in MENA surge by +9pc YoY driven
by major infrastructure spending in Saudi Arabia (+20pc
YoY).

H1 profit up 46pc

For the first half of 2018, Alba’s Net Income stood at BD63.0m (US$167.5m), an increase of 46pc YoY, compared to BD43.3m (US$115.0m) in 2017. Earnings per share were fils 44 versus fils 31 in H1 2017. 

Total Sales/Revenues reached BD465.2m (US$1,237.4m), up by 26pc YoY, compared to BD369.7m (US$983.3m).