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BMMI Q3 profit climbs 16.0% YOY

BMMI B.S.C. said its third-quarter normalized net income was 1.4 million dinars, a gain of 16.0% from 1.2 million 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 increased to 6.8% from 5.1% in the year-earlier period.

Total revenue decreased 14.1% on an annual basis to 21.1 million dinars from 24.5 million dinars, and total operating expenses declined 17.0% on an annual basis to 18.9 million dinars from 22.8 million dinars.

Reported net income fell 7.7% from the prior-year period to 2.2 million dinars, or 16 fils per share, from 2.3 million dinars, or 17 fils per share.

As of Oct. 29, US$1 was equivalent to 380 Bahraini fils.