Bahrain Flour Mills posts Q4 profit, announces dividend | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

  • Date: 02-Mar-2021
  • Source: The Daily Tribune - News of Bahrain
  • Sector:Financial Markets
  • Country:Bahrain
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Bahrain Flour Mills posts Q4 profit, announces dividend | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Helped by “investment and other income” Bahrain Flour Mills company reported a jump in quarterly profit notwithstanding the impacts of the COVID-19 pandemic. The board also recommended a cash dividend of BHD 372,384 at 15% of its paid-up capital.

Full-year profit, the company said, was impacted by a drop in the market value of the investment portfolio and the increase in the operating expenses.

However, Marwan Tabbara - Chairman of the Board of Directors, said the company is determined to “enhance its ability to achieve strong results with an optimistic outlook to support the local economy.” Board directors also thanked Bahraini leadership for the continuous support to the food sector and Al-Matahin Company to provide subsidised food commodity to citizens and residents of the Kingdom.

Tabbara also assured that the company took all