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BMMI Q3 profit climbs 9.6% YOY

BMMI B.S.C. said its normalized net income for the third quarter came to 1.5 million dinars, an increase of 9.6% from 1.4 million 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 climbed to 5.8% from 5.5% in the year-earlier period.

Total revenue grew year over year to 26.0 million dinars from 24.9 million dinars, and total operating expenses rose from the prior-year period to 24.2 million dinars from 23.5 million dinars.

Reported net income fell 26.0% from the prior-year period to 2.1 million dinars, or 15 fils per share, from 2.8 million dinars, or 21 fils per share.

As of Oct. 30, US$1 was equivalent to 380 Bahraini fils.