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Bahrain Flour Mills Q1 profit climbs YOY

Bahrain Flour Mills Co. BSC said its normalized net income for the first quarter amounted to 1.2 million Bahraini dinars, a rise from 177,840 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 increased to 67.9% from 11.3% in the year-earlier period.

Total revenue grew 14.9% year over year to 1.8 million dinars from 1.6 million dinars, and total operating expenses climbed 7.4% from the prior-year period to 1.7 million dinars from 1.6 million dinars.

Reported net income rose on an annual basis to 2.0 million dinars, or 79 fils per share, from 250,080 dinars, or 10 fils per share.

As of May 3, US$1 was equivalent to 380 Bahraini fils.