Bahrain Flour Mills announces Quarterly, nine-month profits
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain Flour Mills company (Al-Matahin) announced a net profit of BD 60,124 for the third quarter of 2023, versus a net profit of BD 173,382 for the same period in 2022 with a decrease by 65%.
The decrease was attributed to the decline in sales revenues & increase in other operating exp. Profit per share was fils 2 versus fils 7 for the same period in 2022.
Operating loss was BD 47,182 versus operating profit of BD 124,749 for the same period in 2022, due to decrease in sales during the quarter.
BFM generated sales of BD 1,655,535 versus BD 1,809,601 in Q3 2022 - decreased by 9%, due to 21 days shutdown for the purpose of Mill Expansion work going on.
Nine-month net profit was BD 1,605,685 versus BD 1,555,403 for the same period in 2022-increase by 3%.
Earnings per Share was fils 65 versus fils 63 for the same period in 2022.
Operating Profit was BD 485,092 versus BD 386,551 for the same period in 2022 – increase by 25%, due to an increased demand on company’s products during the first half of the year 2023.
BFM generated sales of BD 5,722,937 versus BD 5,601,758 for 2022 - increase by 2%.
The results were announced by a board meeting chaired by Basim Al Saie, Chairman of the Board of Directors.