Bahrain Flour Mills Company reports Q3 & 9-month profits

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

Email: mail@newsobahrain.com

Bahrain Flour Mills company (Al-Matahin) announced a net Profit of BD 358,905 for the third quarter of 2024, versus a net profit of BD 60,124 for the same period in 2023 with an increase of 83%. The results were announced following a board meeting chaired by Mr. Basim Al Saie, Chairman of the Board of Directors.

The increase in the net profit for the third quarter of the year 2024 in comparison to the same period in 2023 is attributed to the increase in sales revenues & decrease in other operating exp provision, besides improved investment income in the third Quarter.

The Company reported Basic and Diluted profit per Share of fils 14.46 for Q3 2024 versus Basic and Diluted Earnings per Share of fils 2.42 for the same period in 2023. Operating profit for Q3 2024 was BD 107,594 versus operating loss of BD (47,182) for the same period in 2023, due to above reasons.

With regards to sales in Q3 2024, BFM generated BD 1,800,558 versus BD 1,655,535 in Q3 2023 - increased by 8%, due to the increase in Bran production.

Nine-month

For the period of nine months of 2024, BFM has reported a Net Profit of BD 528,444 versus BD 1,605,685 for the same period in 2023-decrease by 204%.

The Company reported Basic and Diluted Earnings per Share of fils 21.29 for the period of nine months of 2023 versus fils 64.68 for the same period in 2023.

Operating Profit for the period of nine months of 2024 was BD 114,178 versus BD 524,876 for the same period in 2023 – decrease by 360%, due to an increase in operating expenses.

BFM generated during the nine months of 2024, sales of BD 5,737,441 versus BD 5,722,937 for 2023 -with a slight increase by 0.3%.

The Company’s total equity decreased by 0.4% to BD 26,180,931 compared with BD 25,220,886 as recorded on 31 December 2023. The total assets for the period reached BHD 37,826,419 compared to BD 35,548,935 at the end of the same period in 2023, being an increase of 6%.