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Bahrain Duty Free Shop Complex BSC Q4 profit climbs 62.6% YOY

Bahrain Duty Free Shop Complex BSC said its fourth-quarter normalized net income amounted to 1.9 million dinars, a rise of 62.6% from 1.1 million dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 25.3% from 15.9% in the year-earlier period.

Total revenue grew on an annual basis to 7.3 million dinars from 7.2 million dinars, and total operating expenses came to 6.0 million dinars, compared with 6.1 million dinars in the prior-year period.

Reported net income increased 62.0% on an annual basis to 3.0 million dinars, or 21 fils per share, from 1.8 million dinars, or 13 fils per share.

For the year, the company's normalized net income totaled 38 fils per share, a gain of 10.6% from 34 fils per share in the prior year.

Normalized net income was 5.4 million dinars, a gain of 10.6% from 4.9 million dinars in the prior year.

Full-year total revenue grew year over year to 28.9 million dinars from 28.1 million dinars, and total operating expenses rose on an annual basis to 23.7 million dinars from 23.0 million dinars.

The company said reported net income fell 7.0% on an annual basis to 8.3 million dinars, or 59 fils per share, in the full year, from 9.0 million dinars, or 63 fils per share.

As of Feb. 21, US$1 was equivalent to 380 Bahraini fils.