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Bahrain Duty Free Shop Complex BSC Q2 profit falls YOY

Bahrain Duty Free Shop Complex BSC said its normalized net income for the second quarter came to 884,690 Bahraini dinars, a decline of 9.1% from 973,450 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 declined to 11.6% from 14.3% in the year-earlier period.

Total revenue grew 11.6% year over year to 7.6 million dinars from 6.8 million dinars, and total operating expenses rose 10.2% on an annual basis to 6.3 million dinars from 5.7 million dinars.

Reported net income decreased 9.3% year over year to 1.4 million dinars, or 10 fils per share, from 1.6 million dinars, or 11 fils per share.

As of Aug. 10, US$1 was equivalent to 380 Bahraini fils.Bahrain Duty Free Shop Complex BSC