trending Market Intelligence /marketintelligence/en/news-insights/trending/qdUsVrPSqxoz0E8G8CDn7Q2 content esgSubNav
In This List

Gulf Hotels Group Q2 profit falls YOY


According to Market Intelligence, December 2022


Private Markets 360° | Episode 1: The role of ESG in Private Equity


Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes


Investment Research Coverage of Inflation and Recession-Focused Topics on the Rise

Gulf Hotels Group Q2 profit falls YOY

Gulf Hotels Group B.S.C. said its normalized net income for the second quarter amounted to 1.1 million Bahraini dinars, a decline of 38.9% from 1.8 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 dropped to 14.2% from 21.8% in the year-earlier period.

Total revenue declined 6.2% on an annual basis to 7.8 million dinars from 8.3 million dinars, and total operating expenses grew 15.8% year over year to 6.7 million dinars from 5.8 million dinars.

Reported net income grew on an annual basis to 6.7 million dinars, or 33 fils per share, from 2.9 million dinars, or 15 fils per share.

As of Aug. 5, US$1 was equivalent to 380 Bahraini fils.