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Alba’s acting CEO: “we are set for a strong finish to 2019”

Alba’s acting CEO: “we are set for a strong finish to 2019”
Alba will release its third quarter 2019 financials on 27 October
Alba
ALBH
1.70% 1.20 0.02

Mubasher: Aluminium Bahrain (Alba) has recorded a growth of 51% year-on-year (YoY) in its sales’ volume of 376,025 metric tonnes (mt) during the third quarter of 2019, versus 248,970 mt over the corresponding period last year.

Meanwhile, production surged by 35% to stand at 385,396 mt in Q3-19 when compared to 251,472 mt in Q3-18, according to a recent press release.

Commenting on Alba’s Q3-19 operational performance, the acting CEO Ali Al Baqali said, “With the double-digit growth in our Production and Sales’ Volume, we are set for a strong finish to 2019. This year is proving to be transformational for Alba as we will produce 1,350,000 mt for the first-time in history and deliver Line 6 into commercial operations.”

Alba is targeting to become the largest aluminium smelter with Line 6 across the world.

Over the first nine months of 2019, Alba achieved an increase of 26% in its sales’ volume of 945,067 mt, compared to 750,202 mt during the same period a year earlier.

Production soared by 26% YoY to amount to 963,830 mt from January to September 2019 when compared to 762,952 mt.

“Alba will release its third quarter and nine-month 2019 financial results to the public on 27 October 2019,” the press release noted.