Aug 1 Aluminium Bahrain, which owns the world's fourth-largest aluminium smelter, saw its second quarter net income fell 21.9 percent due to unrealised derivative gains, a statement said on Monday.
Bahrain was rocked by months of anti-government protests which began in February. Martial law, imposed in March, was lifted on June 1.
The firm reported a net income of $185 million during the second quarter, compared to $237 million a year ago. "Net income was impacted by unrealised derivative gains in Q2 partially offset by strong overall performance," said the statement.
Alba's sales reached $645 million in the second quarter of 2011, compared to $534 million in the same period last year.
"Despite the social and political challenges faced during the last months and some exceptional one-time costs, Alba showed a strong resilience," said Laurent Schmitt, Alba's chief executive officer.
Overall, Alba sees strong demand continuing in Asia despite Japan's earthquake and increased demand in the Middle East and North Africa region being driven by investments in infrastructure, said the statement. For 2011 Alba has managed to secure its raw materials requirements, it added.
In March, Alba's management said they were studying how to supply energy to a planned sixth production line that would boost capacity by 400,000 tonnes annually. Overall, Alba produces more than 860,000 tonnes of aluminum annually.
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