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Bahrain Flour Mills Q4 profit climbs 60.8% YOY

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Bahrain Flour Mills Q4 profit climbs 60.8% YOY

Bahrain Flour Mills Co. BSC said its normalized net income for the fourth quarter was 228,570 Bahraini dinars, a rise of 60.8% from 142,120 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 13.7% from 9.2% in the year-earlier period.

Total revenue rose 8.1% year over year to 1.7 million dinars from 1.5 million dinars, and total operating expenses climbed on an annual basis to 1.6 million dinars from 1.5 million dinars.

Reported net income increased 60.8% from the prior-year period to 365,700 dinars, or 15 fils per share, from 227,390 dinars, or 9 fils per share.

For the year, the company's normalized net income totaled 21 fils per share, a gain of 38.8% from 15 fils per share in the prior year.

Normalized net income was 523,450 dinars, a gain of 38.7% from 377,300 dinars in the prior year.

Full-year total revenue increased 8.2% year over year to 6.5 million dinars from 6.0 million dinars, and total operating expenses increased on an annual basis to 6.3 million dinars from 6.0 million dinars.

The company said reported net income grew 33.0% year over year to 803,070 dinars, or 32 fils per share, in the full year, from 603,680 dinars, or 24 fils per share.

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