Aluminium Bahrain (Alba), owner of one of the world’s largest aluminium smelters, reported a 88.6% fall in first-quarter net profit on Monday as a result of a collapse in aluminium prices.
Alba’s net income for the three months to March 31 was 4.2-million dinars ($11.22-million) it said in a statement. This compares with a profit of 37.2-million dinars in the prior-year period.
