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Bahrain Flour Mills Q3 profit climbs YOY

Bahrain Flour Mills Co. BSC said its normalized net income for the third quarter amounted to 52,980 Bahraini dinars, an increase from 25,610 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 rose to 3.6% from 2.0% in the year-earlier period.

Total revenue grew 16.6% year over year to 1.5 million dinars from 1.3 million dinars, and total operating expenses increased 12.0% year over year to 1.5 million dinars from 1.3 million dinars.

Reported net income grew from the prior-year period to 84,770 dinars, or 3 fils per share, from 40,980 dinars, or 2 fils per share.

As of Nov. 2, US$1 was equivalent to 380 Bahraini fils.