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Bahrain Flour Mills swings to profit in Q3

Bahrain Flour Mills Co. BSC said its third-quarter normalized net income was 25,610 Bahraini dinars, compared with a loss of 14,200 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 rose to 2.0% from negative 1.1% in the year-earlier period.

Total revenue declined on an annual basis to 1.3 million dinars from 1.3 million dinars, and total operating expenses fell 9.6% on an annual basis to 1.3 million dinars from 1.5 million dinars.

Reported net income totaled 40,980 dinars, or 2 fils per share, compared to a loss of 22,720 dinars, or a loss of 1 fils per share, in the prior-year period.

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