Seef Properties reports net profit of BD 2.71 Million for the first half of 2020

Seef Properties reports net profit of BD 2.71 Million for the first half of 2020

Seef Properties B.S.C. (SEEF), announced its financial results for the six-month period ended 30 June 2020. The Company reported net profits and total comprehensive income attributable to the parent of BD 2.71 million for the six-month period ended 30 June 2020, compared to BD 4.72 million for the same period in the previous year, with a decrease of 42.63%. This decrease when compared to last year is mainly attributable to the repercussions of the COVID-19 pandemic, which include reduction of income due to the introduction of the Tenant Support Fund of BD 1 million, closure of family entertainment centres and decrease in hotel apartment occupancy rates. Diluted earnings per share for the period ended 30 June 2020 amounted to 5.89 fils, compared to 10.26 fils for the same