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Banader Hotels Q4 loss widens YOY

Banader Hotels Co. B.S.C. said its fourth-quarter normalized net income was a loss of 402,050 Bahraini dinars, compared with a loss of 12,710 dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Reported net income came to a loss of 645,140 dinars, compared to a loss of 19,920 dinars in the year-earlier period.

For the year, the company's normalized net income totaled 722,070 dinars, compared with a loss of 68,700 dinars in the prior year.

The company said reported net income came to a loss of 1.2 million dinars, or a loss of 8 fils per share, in the full year, compared with a loss of 109,920 dinars, or a loss of 1 fils per share, the prior year.

As of Feb. 8, US$1 was equivalent to 380 Bahraini fils.