Bahrain Flour Mills Co. BSC said its fourth-quarter normalized net income was 140,870 Bahraini dinars, a rise of 40.2% from 100,460 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 9.2% from 6.6% in the year-earlier period.

Total revenue climbed year over year to 1.5 million dinars from 1.5 million dinars, and total operating expenses fell 6.8% from the prior-year period to 1.5 million dinars from 1.6 million dinars.

Reported net income grew 46.1% year over year to 227,390 dinars, or 9 fils per share, from 155,650 dinars, or 6 fils per share.

For the year, the company's normalized net income totaled 15 fils per share, a decline from 16 fils per share in the prior year.

Normalized net income was 376,060 dinars, a decrease from 387,020 dinars in the prior year.

Full-year total revenue decreased year over year to 6.0 million dinars from 6.1 million dinars, and total operating expenses fell on an annual basis to 6.0 million dinars from 6.2 million dinars.

The company said reported net income decreased on an annual basis to 603,680 dinars, or 24 fils per share, in the full year, from 614,140 dinars, or 25 fils per share.

As of Feb. 18, US$1 was equivalent to 380 Bahraini fils.