Car Parks Company posts $2m net profit
Manama, March 19, 2013
Bahrain Car Parks Company, a major supplier of car park equipment in Bahrain, said its net profit for 2012 surged to BD786,480 ($2.07 million) from BD725,391 the previous year.
The company's operating income was down to BD1.7 million from BD1.78 million the previous year, reported the Gulf Daily News, our sister publication.
At their annual general meeting yesterday the board agreed a 10 per cent dividend representing 10 fils per share.
"As far as investments are concerned the company has a portfolio in the form of quoted shares, debt securities and guaranteed funds amounting to BD3.63 million at the year-end," said chairman Mahmood Mahmood Hussain.
"Some investments matured last year and that balance was transferred to fixed deposits," he stated
He added that the company had no plans to develop other car park or office facilities this year but was always available to take over the management of car parks or properties of other businesses.-TradeArabia News Service