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Bahrain Duty Free Shop Complex BSC Q1 profit climbs 12.6% YOY

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Bahrain Duty Free Shop Complex BSC Q1 profit climbs 12.6% YOY

Bahrain Duty Free Shop Complex BSC said its normalized net income for the first quarter came to 1.4 million dinars, a rise of 12.6% from 1.2 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 climbed to 18.4% from 17.5% in the year-earlier period.

Total revenue increased 6.7% on an annual basis to 7.5 million dinars from 7.0 million dinars, and total operating expenses increased year over year to 6.1 million dinars from 5.9 million dinars.

Reported net income rose 22.0% from the prior-year period to 2.2 million dinars, or 15 fils per share, from 1.8 million dinars, or 13 fils per share.

As of May 10, US$1 was equivalent to 380 Bahraini fils.