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Bahrain Family Leisure swings to loss in Q3

Bahrain Family Leisure Co. BSC said its normalized net income for the third quarter was a loss of 22,040 Bahraini dinars, compared with income of 435,900 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 declined to negative 7.1% from 171.5% in the year-earlier period.

Total revenue increased 21.4% year over year to 308,600 dinars from 254,220 dinars, and total operating expenses decreased 19.5% year over year to 343,850 dinars from 426,950 dinars.

Reported net income came to a loss of 676,420 dinars, or a loss of 19 fils per share, compared to income of 697,430 dinars, or 19 fils per share, in the year-earlier period.

As of Nov. 2, US$1 was equivalent to 380 Bahraini fils.