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Bahrain Flour Mills Q2 profit falls YOY

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Bahrain Flour Mills Q2 profit falls YOY

Bahrain Flour Mills Co. BSC said its normalized net income for the second quarter amounted to 9,840 Bahraini dinars, a decline of 86.5% from 72,870 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 fell to 0.6% from 4.4% in the year-earlier period.

Total revenue totaled 1.7 million dinars, compared with 1.7 million dinars in the prior-year period, and total operating expenses grew 8.6% on an annual basis to 1.8 million dinars from 1.6 million dinars.

Reported net income fell 86.5% year over year to 15,740 dinars, or 1 fils per share, from 116,600 dinars, or 5 fils per share.

As of July 16, US$1 was equivalent to 380 Bahraini fils.