GHG profit surges 96%: Bahrain

GHG profit surges 96%: Bahrain

Gulf Hotels Group (GHG) has reported an increase of 96.4 per cent in net profit of BD6.669 million for the year ended December 31, 2022 compared to BD3.396m for the previous year.

The earnings per share is 30 fils compared to earnings per share of 15 fils during the same period in 2021.

Total comprehensive income of BD6.328m compared to a profit of BD3.519m for the 12 months of the previous year, with an increase of BD2.809m or 79.8pc.

Revenue of BD31.395m, compared to BD23.001m for the same period of previous year, shows an increase of BD8.394m or 36.5pc.

The total equity (excluding minority interests) during the 12 months was BD103.603m compared to BD101.829m at the end of last year, with an increase of BD1.773m or 1.7pc.

The total assets for the YTD reached BD 111.795m compared to BD 113.446m at the end of last year, with a decrease of BD1.652m or 1.5pc.

For the fourth quarter of 2022, net profit of BD2.557m is down by 19.94pc from BD3.194m in the fourth quarter of 2021.

The earning per share is 11 fils compared to 14 fils in the fourth quarter of 2021.

Total comprehensive income was BD2.301m compared to BD3.188m for the fourth quarter of 2021, with a