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Bahrain Duty Free Shop Complex BSC Q3 profit climbs 7.0% YOY

Bahrain Duty Free Shop Complex BSC said its normalized net income for the third quarter was 1.4 million Bahraini dinars, an increase of 7.0% from 1.3 million dinars in the year-earlier period.

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

The normalized profit margin dropped to 17.0% from 17.4% in the year-earlier period.

Total revenue climbed 9.4% year over year to 8.4 million dinars from 7.7 million dinars, and total operating expenses climbed 13.5% year over year to 6.9 million dinars from 6.1 million dinars.

Reported net income rose 10.5% on an annual basis to 2.2 million dinars, or 16 fils per share, from 2.0 million dinars, or 14 fils per share.

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