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BMMI Q2 profit falls YOY

BMMI B.S.C. said its second-quarter normalized net income came to 559,100 dinars, a decrease of 63.2% from 1.5 million dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 2.5% from 6.9% in the year-earlier period.

Total revenue grew year over year to 22.6 million dinars from 22.2 million dinars, and total operating expenses grew 12.7% year over year to 22.4 million dinars from 19.9 million dinars.

Reported net income fell 48.1% from the prior-year period to 1.2 million dinars, or 9 fils per share, from 2.3 million dinars, or 17 fils per share.

As of Aug. 8, US$1 was equivalent to 380 Bahraini fils.