Manama, May 12 (BNA) The Bahrain Duty Free Complex achieved a net profit of BD1,101,324 compared to last year’s net profit of BD666,464 in the three months ending March 31, 2022, an increase of BD434,860 or An increase of 65.2%.
Chairman of the Board, Farouk Yousef Al-Moayad, said that the company achieved a better financial result and very acceptable results, now with the gradual return of air traffic and the improvement of passenger traffic.
“This will boost demand in the travel sector in the coming months and then duty-free sales to return in particular to the contribution made by the joint venture partnership between Bahrain Duty Free Complex and Gulf Air Group Holding Company under the name ‘Bahrain Duty Free Company’.”
Basic earnings per share amounted to 7.74 fils compared to 4.68 fils last year.
Total comprehensive income amounted to BD 2,369,666 for the first quarter of 2022 compared to BD 650,616 in the previous year, which is an increase of 264.2% mainly due to other comprehensive income for the year which amounted to 1,268,342 BD compared to BD 15,848 last year. representing an increase of 8103.2%
Shareholders’ equity amounted to BD 45,573,231 compared to BD 47,472,014 last year, which represents a decrease of 4.0%.
Total assets amounted to 45,749,799 compared to BD 47,618,083 last year for the same period, a decrease of 3.9%.
Vice-Chairman of the Board of Directors Abdullah Buhendi said that the investment profits recorded BD1,101,324 compared to BD666,464 last year, which represents an increase of BD434,860, or 65.2%. The investment portfolio decreased by 1.63% to reach BD44,412.914.