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Bahrain Duty Free profit rises 9.1 per cent

Bahrain Business
Wed, 08 Nov 2017
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A statement said sales also grew 9pc to BD23,467,221 compared with prior year’s sales of BD21,524,861.

Shareholders’ equity as of September stands at BD49,689,919 compared with BD50,771,096 last year and earnings per share rose 9.1pc to 41.19 fils compared with last year’s figure of 37.75 fils per share.

In the three months ended September, sales were BD8,387,547 compared with BD7,667,795 last year which represents an increase of BD719,752 or 9.4pc.

Net profit of BD2,245,336 recorded an increase of 10.5pc compared with prior year quarter.

Chairman Farouk Almoayyed announced following a meeting of the board of directors yesterday that financial results for the nine months ended September had been approved.

The company’s managing director Abdulla Buhindi said profits from investments amounted to BD1,624,818 as against BD1,542,972 last year, representing an increase of BD81,846 or 5.3pc.

The investment portfolio increased by 19.9pc during the year and now stands at BD38,904,812.

He added that the upgrade of all shops in the departures area had a direct impact on the increase of sales during the year.

“The company remains focused on delivering first class customer service and unique shopping experience for customers,” he added.

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