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Bahrain Flour Mills Q2 profit climbs YOY

Bahrain Flour Mills Co. BSC said its second-quarter normalized net income was 64,070 Bahraini dinars, an increase from 9,840 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 climbed to 3.7% from 0.6% in the year-earlier period.

Total revenue increased on an annual basis to 1.7 million dinars from 1.7 million dinars, and total operating expenses fell on an annual basis to 1.7 million dinars from 1.8 million dinars.

Reported net income grew from the prior-year period to 102,510 dinars, or 4 fils per share, from 15,740 dinars, or 1 fils per share.

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