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Bahrain Family Leisure Q1 profit climbs 7.0% YOY

Bahrain Family Leisure Co. BSC said its first-quarter normalized net income was 127,720 Bahraini dinars, an increase of 7.0% from 119,380 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 increased to 40.9% from 34.1% in the year-earlier period.

Total revenue fell 10.8% year over year to 311,990 dinars from 349,600 dinars, and total operating expenses fell 14.2% year over year to 337,190 dinars from 392,920 dinars.

Reported net income came to a loss of 802,930 dinars, or a loss of 22 fils per share, compared to income of 511,250 dinars, or 14 fils per share, in the year-earlier period.

As of April 19, US$1 was equivalent to 380 Bahraini fils.