Farouk Al Moayyed
Bahrain Duty Free 9-month profits rise 9.1pc to $15.5m
MANAMA, November 7, 2017
Bahrain Duty Free has achieved a net profit of $15.5 million for the nine months ended September 30 2017, representing an increase of 9.1 per cent compared to the same period last year.
The financial results were annnounced following a meeting of the company's board of directors today (November 7).
Farouk Yousuf Al Moayyed, chairman of the board, said company sales also grew 9 per cent to $62.2 million compared to prior year’s sales of $57.1 million.
He said the shareholder’s equity as at September 30 stood at $131.80 million, compared to $134.671 million last year and earnings per share rose 9.1 per cent to 10.9 US cents compared to last year’s figure of 10 US cents per share.
In the three months ended September 30, sales were $22.248 million compared to $20.338 million last year, which represents an increase of 9.4 per cent. Net profit of $5.955 million was an increase of 10.5 per cent compared to prior year quarter. - TradeArabia News Service
