trending Market Intelligence /marketintelligence/en/news-insights/trending/h4VmK-0qqVkcU4m89ir2TQ2 content esgSubNav
In This List

Gulf Hotels Group Q2 profit falls YOY


Next in Tech | Episode 84: The bear bites M&A


MediaTalk Episode 27


Tudor, Pickering, Holt & Co. Research Now Available

Case Study

A University Adds Aftermarket Research to Its Student Toolkit

Gulf Hotels Group Q2 profit falls YOY

Gulf Hotels Group B.S.C. said its normalized net income for the second quarter amounted to 1.8 million Bahraini dinars, a decline of 18.0% from 2.2 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 declined to 21.8% from 24.7% in the year-earlier period.

Total revenue fell 6.9% on an annual basis to 8.3 million dinars from 8.9 million dinars, and total operating expenses came to 5.8 million dinars, compared with 5.8 million dinars in the prior-year period.

Reported net income decreased 20.4% on an annual basis to 2.9 million dinars, or 15 fils per share, from 3.6 million dinars, or 19 fils per share.

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