Bahrain Flour Mills Company discloses financial results

TDT | Manama

Bahrain Flour Mills Company yesterday announced its financials for the year ended 31st December 2019. The company achieved a net profit of BD396,550 during the fourth quarter of the year compared to a loss of BD149,823 during same quarter of the year ended 31st December 2018, with an increase of 365 per cent. The increase in the net profit in comparison to the same period of last year relates to the increase in the operating profit and investment income. Earnings per share were 16 fils compared to loss of 6 fils in the same period of last year.

The company also achieved an operating profit of BD94,258 compared to loss in the same period of the last year. With regard to revenue/ sales, the company achieved B D 1825, 861 compared to BD1,771,319 in the same period of last year, which is an increase of 3pc. The company achieved a net profit (net comprehensive income) of BD 1,850,735, compared to BD1,195,239 during the previous year, which is an increase of 55pc. Earnings per share during the year ended 31st December 2019 were 75 fils compared to 48 fils in the same period of last year. The total shareholders’ equity (excluding minority interests) for the year ended 31st December 2019 was BD20,066,534 compared to BD18,985,799 in last year, with an increase of 6pc. The total assets for the year reached BD 25,987,289 compared to BD 24,678,469 in the previous year, with an increase of 5pc. The company also achieved an operating profit in the year ended 31st December 2019 of BD310,371, compared to BD 210,274 in the same period of the last year, with an increase of 48pc. With regard to revenue/ sales, the company achieved BD7,075,011, during the year ended 31st December 2019, compared to BD 7,097,842 in the same period of last year, with a decrease of 0.33pc. The increase in the net profit for the year ended 31st December 2019 in comparison to the same period of last year relates to the decrease in the operating expenses and increase in investment income for the same period