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Bahrain Duty Free Shop Complex BSC Q3 profit falls YOY

Bahrain Duty Free Shop Complex BSC said its third-quarter normalized net income came to 1.2 million dinars, a fall of 14.2% from 1.4 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 dropped to 16.3% from 20.3% in the year-earlier period.

Total revenue grew 9.8% year over year to 7.6 million dinars from 6.9 million dinars, and total operating expenses increased 9.0% year over year to 6.2 million dinars from 5.7 million dinars.

Reported net income declined 14.4% from the prior-year period to 1.9 million dinars, or 14 fils per share, from 2.2 million dinars, or 16 fils per share.

As of Nov. 11, US$1 was equivalent to 380 Bahraini fils.