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BMMI Q1 profit falls YOY

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BMMI Q1 profit falls YOY

BMMI B.S.C. said its normalized net income for the first quarter amounted to 13 Bahraini fils per share, a decrease of 7.4% from 14 fils per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.8 million dinars, a decrease of 6.6% from 1.9 million dinars in the prior-year period.

The normalized profit margin declined to 7.5% from 8.3% in the year-earlier period.

Total revenue grew on an annual basis to 23.5 million dinars from 22.8 million dinars, and total operating expenses climbed on an annual basis to 21.0 million dinars from 20.2 million dinars.

Reported net income fell 8.9% on an annual basis to 2.7 million dinars, or 20 fils per share, from 3.0 million dinars, or 22 fils per share.

As of April 26, US$1 was equivalent to 380 Bahraini fils.