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Bahrain Flour Mills Q3 profit climbs YOY

Bahrain Flour Mills Co. BSC said its third-quarter normalized net income amounted to 412,660 Bahraini dinars, a gain from 52,980 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 climbed to 26.5% from 3.6% in the year-earlier period.

Total revenue rose year over year to 1.6 million dinars from 1.5 million dinars, and total operating expenses fell from the prior-year period to 1.4 million dinars from 1.5 million dinars.

Reported net income rose on an annual basis to 660,260 dinars, or 27 fils per share, from 84,770 dinars, or 3 fils per share.

As of Nov. 9, US$1 was equivalent to 380 Bahraini fils.