Seef Properties reports financial results for the 3rd quarter of 2021

Seef Properties reports financial results for the 3rd quarter of 2021

Seef Properties B.S.C. (Bahrain Bourse Trading Code: SEEF) announced its financial results for the nine (9) month period ended 30 September 2021, including its financial results for the third quarter of 2021. The Company reported a net profit and comprehensive income attributable to the parent of BD 1.24 million during the third quarter of 2021, compared to BD 0.93 million for the same quarter of last year, with an increase of 33.14%. The increase is attributable to the increase in revenue in the retail and hospitality segments contemporaneous with the gradual reduction of pandemic restrictions and higher occupancy rates in the hotel apartments, in addition to a minor increase in entertainment sector due to the recommencement of limited operations in the family entertainment centres. Basic and diluted earnings per share attributable to the parent for the third quarter of 2021 amounted to 2.70 fils, compared to 2.03 fils for the same quarter of the previous year. The Company’s operating profit stood at BD 2.03 million during the third quarter of 2021, compared to BD 1.87 million for the same quarter of last year, with an increase of 8.54%. Revenues increased in the third quarter of 2021 by 4.69% to reach