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Bahrain Family Leisure swings to profit in Q2

Bahrain Family Leisure Co. BSC said its normalized net income for the second quarter came to 615,890 dinars, compared with a loss of 30,700 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 increased to negative 4.9% from negative 9.7% in the year-earlier period.

Total revenue decreased 11.2% on an annual basis to 280,690 dinars from 316,090 dinars, and total operating expenses declined 16.1% from the prior-year period to 306,390 dinars from 365,200 dinars.

Reported net income came to 985,430 dinars, or 27 fils per share, compared to a loss of 139,390 dinars, or a loss of 4 fils per share, in the year-earlier period.

As of July 25, US$1 was equivalent to 380 Bahraini fils.