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Bahrain Flour Mills Q2 profit climbs YOY

Bahrain Flour Mills Co. BSC said its normalized net income for the second quarter amounted to 1.4 million Bahraini dinars, a rise from 64,070 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 rose to 73.4% from 3.7% in the year-earlier period.

Total revenue grew 6.7% year over year to 1.9 million dinars from 1.7 million dinars, and total operating expenses climbed year over year to 1.8 million dinars from 1.7 million dinars.

Reported net income rose on an annual basis to 2.2 million dinars, or 88 fils per share, from 102,510 dinars, or 4 fils per share.

As of Aug. 9, US$1 was equivalent to 380 Bahraini fils.