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BMMI Q2 profit climbs 93.0% YOY

BMMI B.S.C. said its normalized net income for the second quarter came to 1.1 million dinars, a rise of 93.0% from 559,100 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 climbed to 4.5% from 2.5% in the year-earlier period.

Total revenue climbed 5.5% on an annual basis to 23.8 million dinars from 22.6 million dinars, and total operating expenses came to 22.5 million dinars, compared with 22.4 million dinars in the year-earlier period.

Reported net income grew 20.8% from the prior-year period to 1.5 million dinars, or 11 fils per share, from 1.2 million dinars, or 9 fils per share.

As of July 31, US$1 was equivalent to 380 Bahraini fils.