Bahrain Flour Mills H1, 2019 profit rises 19pc
Bahrain Flour Mills company reported a 19 per cent increase in its six months 2019 net profit helped mainly by an increase in the market valuation of new equity investment. H1 net profit was BD1,484,750 compared to BD1,243,270 of the previous year. Earnings per shares were 60 fils compared to 50 fils of last year.
Operating profit dropped 21pc to BD135,843 from BD172,393 of last year hurt by a decrease in volume sold for the period. With regards to revenue/sales, the company achieved BD 3,547,934 compared to BD 3,700,208 of last year, with a decrease of 4pc. For the second quarter, net profit rose 4pc to BD 446,943 from BD 429,424 in the year-earlier quarter.
Earnings per shares were 18 fils compared to 17 fils in last year. Operating profit jumped 170pc to BD 67,203 from BD24,860 in the prior-year quarter. With regards to revenue/ sales, the company achieved BD1,723,119, compared to BD1,792,827 in last year, with a decrease of 4pc.
The total shareholders’ equity (excluding minority interests) for the first six months were BD 19,700,549 compared to BD 18,985,799 in last year, with an increase of 4pc. The total assets for the first six months reached BD 25,043,554 compared to BD 24,678,469 in the previous year, with an increase of 1pc.