Alba Announces BD 62.9 Million Net Income for First Half of 2018
2018-07-25 - 7:04 p
Bahrain Mirror: Alba generated a Net Income of BD 29.1 million (US$ 77.4 million) in the second quarter of 2018 versus BD 17.7 million or the same period in 2017 up by 65% Year-over-Year (YoY).
With regards to Total Sales/Revenues, Alba reported BD 244.0 million (US$ 648.9 million) in Q2 2018, up by 36% YoY, compared to BD 179.3 million (US$ 476.9 million) in Q2 2017.
Earnings per share (EPS) in this quarter were fils 21 versus fils 12 in Q2 2017.
With regards to the first half of 2018, Alba's Net Income stood at BD 63.0 million, an increase of 46% YoY, compared to BD 43.3 million in H1 2017. Total Sales/Revenues reached BD 465.2 million, up by 26% YoY, compared to BD 369.7 million. Earnings per share were fils 44 versus fils 31 in H1 2017.
According to the company, Alba's revenues and profits for the second quarter and first-half of 2018 were primarily driven by higher sales volume, higher LME prices (an increase of 18% Year-over-Year) and the impact of Line 5 recovery in Q2 2017.
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