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Farouk Yousuf Al Moayyed

Bahrain Duty Free Q1 profit up 25pc to $7.3m

MANAMA, May 9, 2018

Bahrain Duty Free Complex achieved a net profit of $7.3 million for the first quarter of the year as against a net profit of $5.8 million during Q1 2017, marking an increase of 25 per cent.

Farouk Yousuf Al Moayyed, chairman of the Board stated that the company had basic earnings per share amounted to 5.1 US Cent compared 4.1 US Cent last year.

Total sales for the three months ended March 31, 2018 were $22.8 million compared to $19.8 million last year an increase of $3 million or 15.3 per cent. Shareholders equity is $130.7 million compared to $132.4 million last year.

Profit from Investments recorded an amount of $3.4 million compared to $2.3millionlast year, representing a growth of $1.1 million or 44.8 per cent. The investment portfolio increased by 5.1 per cent to $105 million. – TradeArabia News Service

 




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