Bahrain Flour Mills posts Q3 profit

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bahrain Flour Mills company yesterday reported a third-quarter profit, which the company said was hurt by decreases in the fair value of the investment portfolio and other income.

The third-quarter net profit was BD 1,002,938, down 13% from BD1,147,183 m in the prior-year quarter.

Earnings per share were fils 40 for Q3 2021 versus fils 46 in the corresponding 2020 quarter. Operating profit was BD 70,870 versus BD (61,919) in the year-ago quarter.

BFM generated quarterly sales of BD1,704,585, up 8% from BD1,583,017 in the same quarter a year ago.

Al-Matahin announced the results during a board meeting chaired by Marwan Khaled Tabbara.

Nine-month results

Nine-Month profit jumped 743% to BD 3,439,055 from BD 407,796 in the year-ago period.

Earnings per share were fils 139 versus fils 16 for the same period in 2020.

Operating profit increased 4% to BD 223,405 from BD 214,675 in the year-ago period.

Sales dropped 3% to BD 5,161,201 from BD 5,307,006 in 2020.

 Total equity increased 15% to BD 23,931,108 from BD20,884,437 as recorded on 31 December 2020.

The total assets for the period reached BHD 32,783,548 compared to BD 30,123,536 at the end of the same period in 2020, being an increase of 9%.