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Bahrain Ship Repairing and Engineering Company (Basrec) announced a net profit of BD522,810 for the fourth quarter of 2025, compared to BD581,851 for the same quarter of 2024, representing a decrease of 10 per cent.
Basic and diluted earnings per share for the fourth quarter of 2025 reached 26 fils, compared to 29 fils for the corresponding quarter of 2024.
Total comprehensive income for the fourth quarter ended December 31, 2025 amounted to BD522,810, reflecting an increase of 29pc compared to BD403,808 for the same period in 2024.
Revenue for the quarter reached BD1,459,717, marking a 3pc increase compared to BD1,415,860 in the fourth quarter of 2024. This growth was supported by strong ship repair activity and higher other income.
For the year ended December 31, 2025, Basrec reported a net profit of BD2,539,622, compared to BD2,350,835 for the year ended December 31, 2024, representing an 8pc year-on-year increase.
Basic and diluted earnings per share for the full year reached 128 fils, compared to 119 fils in 2024.
The company achieved total comprehensive income of BD2,807,008 for the year ended December 31, 2025, an increase of 27pc compared to BD2,207,937 for the same period in 2024.
This improvement reflects enhanced operational performance and positive fair value gains on the group’s equity investment portfolio.
Revenue for the year increased by 8.3pc to BD7,555,142, compared to BD6,972,813 in 2024. The growth was primarily driven by increased activity in the Ship Repair division, which contributed the majority of total revenue. Ship repair and engineering operations remain the core contributors to profitability, with continued focus on expanding service capabilities, operational efficiency, and customer satisfaction.
Total equity reached BD35,895,736, an increase of 5.3pc (December 31, 2024: BD34,078,350), supported by current-year profits and fair value gains on equity investments.
The group continues to maintain strong liquidity, with cash and deposits totalling BD15,200,770 as of December 31, 2025.
Total assets reached BD39,846,442 as of December 31, 2025 (December 31, 2024: BD38,310,714), representing a 4pc increase, reflecting higher cash balances and improved working capital management.
Based on these results, the board of directors has recommended a cash dividend of 50pc of share nominal value, equivalent to 50 fils per share, amounting to BD989,584 to the shareholders whose names are registered on the company’s register on the record date. The proposed annual cash dividend is subject to approval at the annual general meeting to be held on March 26, 2026 in Bahrain.
On the occasion, Basrec chairman Fawzi Ahmed Kanoo commented: “The 2025 results reflect the strength of Basrec’s foundations - financially, operationally, and strategically. We have achieved sustainable growth in revenues and profits despite regional challenges and market volatility, demonstrating the resilience of our business model and our ability to adapt with confidence and responsibility.”
He added: “The strong performance of the Ship Repair sector, together with effective investment portfolio management, has enhanced shareholder value and reinforced the company’s position as a leading national operator in this vital sector. We look ahead with greater confidence, supported by a strong financial base, a capable team, and a clear strategy focused on sustainable growth and strengthening our regional competitiveness.”
Narjis Almoosawi, chief human resources and corporate services officer and acting chief executive, added: “The 2025 results confirm the robustness of Basrec’s operational framework and our ability to deliver sustainable performance driven by efficiency, discipline, and operational flexibility. Throughout the year, we focused on enhancing productivity, optimising resource management, and strengthening cross-functional integration, which supported profitability and reinforced financial stability.”
She added: “We also continued investing in systems development and strengthening the capabilities of our national workforce to meet evolving market demands and elevate service quality. The next phase will focus on deepening operational excellence, expanding our service portfolio, and capitalising on high-quality opportunities that enhance Basrec’s competitive position and support long-term sustainable growth.”
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