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Bahrain Flour Mills Q1 profit falls YOY

Bahrain Flour Mills Co. BSC said its first-quarter normalized net income amounted to 177,840 Bahraini dinars, a decline of 11.0% from 199,730 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 11.3% from 13.4% in the year-earlier period.

Total revenue increased 5.8% on an annual basis to 1.6 million dinars from 1.5 million dinars, and total operating expenses rose 11.3% year over year to 1.6 million dinars from 1.4 million dinars.

Reported net income declined 21.7% year over year to 250,080 dinars, or 10 fils per share, from 319,570 dinars, or 13 fils per share.

As of May 12, US$1 was equivalent to 380 Bahraini fils.