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Bahrain Family Leisure swings to loss in Q2

Bahrain Family Leisure Co. BSC said its second-quarter normalized net income was a loss of 30,700 Bahraini dinars, compared with income of 395,960 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 negative 9.7% from 117.2% in the year-earlier period.

Total revenue decreased 6.5% year over year to 316,090 dinars from 337,970 dinars, and total operating expenses decreased 15.2% from the prior-year period to 365,200 dinars from 430,460 dinars.

Reported net income came to a loss of 139,390 dinars, or a loss of 4 fils per share, compared to income of 633,530 dinars, or 18 fils per share, in the year-earlier period.

As of July 14, US$1 was equivalent to 380 Bahraini fils.