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Bahrain Flour Mills Q1 profit falls YOY

Bahrain Flour Mills Co. BSC said its first-quarter normalized net income came to 199,730 Bahraini dinars, a fall of 12.4% from 227,890 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 fell to 13.4% from 14.7% in the year-earlier period.

Total revenue declined on an annual basis to 1.5 million dinars from 1.6 million dinars, and total operating expenses fell 5.0% on an annual basis to 1.4 million dinars from 1.5 million dinars.

Reported net income fell 12.4% from the prior-year period to 319,570 dinars, or 13 fils per share, from 364,620 dinars, or 15 fils per share.

As of May 13, US$1 was equivalent to 380 Bahraini fils.