Aerial view of Alba
Alba reports 2.3pc increase in sales volume
MANAMA, 7 days ago
Aluminium Bahrain (Alba), a leading aluminium smelter, has reported sales volume of 974,014 metric tonnes (mt) for 2016, up by 2.3 per cent year-on-year (YoY) as compared to 951,944 mt in 2015.
The company also recorded an increase in its production volume, at 971,420 mt, by 1.1 per cent YoY versus 960,643 mt in 2015, said a statement from Alba.
For the fourth quarter of 2016, sales figures grew by 1.5 per cent YoY to stand at 256,445 mt versus 252,582 mt for the same period in 2015 while production figures reached 250,670 mt, an increase of 7,056 mt as compared to Q4 2015, it said.
Moreover, despite the tough market conditions, Alba managed to close 2016 with its value-added (VA) sales averaging 56 per cent of total shipments versus 64 per cent in 2015, the company said.
Alba’s chief executive officer Tim Murray said: “We are pleased to have successfully exceeded our target in sales and production volumes in 2016.”
“This remarkable achievement is in line with our expectations for 2016 and prepares our company for reaching 2017 goals while continuing to focus on safety performance and operational excellence,” he said.
“I, also, thank our dedicated workforce for being committed to our company’s safety journey and urge them to continue to push the limits to achieve more,” he added.
Alba will release its ‘Full-Year and Fourth Quarter 2016 Financial Results’ to the public on February 15, as well as upload the IR presentation on its investor relations section at www.albasmelter.com, it stated. – TradeArabia News Service