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Bahrain Family Leisure Q4 loss widens 14.1% YOY

Bahrain Family Leisure Co. BSC said its fourth-quarter normalized net income came to a loss of 17,540 Bahraini dinars, compared with a loss of 15,370 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 dropped to negative 5.8% from negative 4.4% in the year-earlier period.

Total revenue fell 11.8% year over year to 304,540 dinars from 345,430 dinars, and total operating expenses decreased 10.3% from the prior-year period to 327,330 dinars from 364,790 dinars.

Reported net income came to a loss of 761,510 dinars, or a loss of 21 fils per share, compared to a loss of 43,770 dinars, or a loss of 1 fils per share, in the prior-year period.

For the year, the company's normalized net income totaled 49,750 dinars, compared with a loss of -71,620 dinars in the prior year.

Full-year total revenue declined from the prior-year period to 1.3 million dinars from 1.3 million dinars, and total operating expenses declined 10.7% on an annual basis to 1.4 million dinars from 1.6 million dinars.

The company said reported net income totaled a loss of 1.1 million dinars, or a loss of 30 fils per share, in the full year, compared with income of 2.0 million dinars, or 55 fils per share, the prior year.

As of Feb. 15, US$1 was equivalent to 380 Bahraini fils.