Bahrain Flour Mills company reports Q1 profit
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain Flour Mills company yesterday reported a first-quarter 2023 net profit of BHD 512,840, compared to BHD 2,891,878 in the same quarter a year ago.
Al-Matahin attributed the decrease to decline in fair value of investment.
Earnings per share decreased to 21 fils from 116 fils in prior-year quarter.
Operating profit surged 144% to BHD 336,483 from BD 138,163 in the year-ago quarter, thanks to a decrease of operating expenses, in addition the increase in sales flour products.
With regards to sales, the Company achieved BHD 2,215,526, compared to BHD 2,029,943 in the year-earlier quarter, with an increase of 9%.
Total equity decreased by .5% to BHD 25,088,086 compared with 25,220,886 recorded as of 31 December 2022.
The total assets reached BHD 35,390,308 compared to BD 37,236,618 in the year 2022, with a decrease of 5%.
The results were announced during a board meeting held yesterday chaired by Basim AlSaie, Chairman of the Board of Directors.
Related Posts