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Bahrain Duty Free Shop Complex BSC Q1 profit climbs 30.2% YOY

Bahrain Duty Free Shop Complex BSC said its first-quarter normalized net income amounted to 1.5 million Bahraini dinars, an increase of 30.2% from 1.1 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 rose to 22.7% from 17.5% in the year-earlier period.

Total revenue climbed on an annual basis to 6.6 million dinars from 6.4 million dinars, and total operating expenses rose on an annual basis to 5.5 million dinars from 5.4 million dinars.

Reported net income rose 29.6% on an annual basis to 2.3 million dinars, or 16 fils per share, from 1.8 million dinars, or 13 fils per share.

As of May 13, US$1 was equivalent to 380 Bahraini fils.