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BMMI Q3 profit falls YOY

BMMI B.S.C. said its third-quarter normalized net income came to 10.2 Bahraini fils per share, a decline from 10.4 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.4 million dinars, a decline from 1.4 million dinars in the year-earlier period.

The normalized profit margin declined to 5.5% from 6.8% in the year-earlier period.

Total revenue increased 18.0% year over year to 24.9 million dinars from 21.1 million dinars, and total operating expenses grew 24.1% from the prior-year period to 23.5 million dinars from 18.9 million dinars.

Reported net income grew 33.3% from the prior-year period to 2.9 million dinars, or 21 fils per share, from 2.2 million dinars, or 16 fils per share.

As of Oct. 31, US$1 was equivalent to 380 Bahraini fils.