Bahrain Duty Free announces BD 2.1 Million in net profits for 2021

Bahrain Duty Free announces BD 2.1 Million in net profits for 2021

Bahrain Duty Free Shop Complex (DUTYF) announced at a meeting of its board of directors on Monday 14 February 2022, the financial results for the year ended 31 December 2021. Mr. Farouk Yousuf Almoayyed – Chairman of the Board, stated that the company had achieved a net profit of BD 453,215 compared to BD 108,337 in the previous year’s corresponding quarter representing an increase of 318.3%. This impact coming from an increase of 216.8% in income from joint ventures which were BD 730,503 compared to BD 230,559 last year. Earnings per share are 3.19 fils compared to 0.76 fils in the corresponding quarter of last year. Total comprehensive loss was BD 58,054 compared to loss of BD 1,495,663 in the same period of last year, a decrease of 96.1%. Investment income in the quarter was BD 600,393 compared to loss of BD 201,470 while the investment has increased with an impact on last year’s figure thereby giving an increase of 398.0% quarter on quarter. The Company have operation loss during the fourth quarter in 2021 of BD 144,641 compared to operating profit of BD 204,260 last year, a decrease of 170.8% and this is due to duty free business transferred