Bahrain Duty Free delivers growth despite tough conditions
Bahrain Duty Free Shop Complex BSC has reported a +17.4% increase in net profit to BD6.4 million (US$17 million) for the year ended 31 December 2012.
In a statement the company said that total revenues grew by +2.7% in the year to BD27.5 million (US$73.1 million).
Gross profit rose by +6% and gross profit margin increased +3.2%. Operating costs were cut by -6.4%, spurring a +22.5% rise in operating profit.
A spokesman said: “Despite the continuing difficulties faced in 2012, our financial results demonstrate the resilience of the company to return another strong financial performance.
“2013 is expected to be a challenging year and the company remains focused to achieve another exceptional performance.”.
Bahrain Duty Free Shop Complex BSC is a joint stock registered in1990. Its managing company is Aer Rianta International (Middle East) WLL, in which Dublin Airport Authority holds a 61.25% stake.