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Banader Hotels Q1 loss narrows YOY

Banader Hotels Co. B.S.C. said its first-quarter normalized net income was a loss of 651,470 Bahraini dinars, compared with a loss of 705,050 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 was 92.3%.

Total revenue grew year over year to 706,100 dinars from 116,870 dinars, and total operating expenses grew 25.1% on an annual basis to 1.5 million dinars from 1.2 million dinars.

Reported net income came to a loss of 1.1 million dinars, or a loss of 5 fils per share, compared to a loss of 1.2 million dinars, or a loss of 8 fils per share, in the prior-year period.

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