Bahrain Duty Free posts 7.5% jump in first-half net profit

 

 
Bahrain Duty Free Shop Complex has announced 7.5% growth in first-half net profit and a 9.1% surge in sales for the first half ended June 30, 2017. 
 
Mr Farouk Yousuf Al Moayyed, Chairman of the Board, said the company had achieved a solid six-month performance
 
Mr Farouk Yousuf Al Moayyed, Chairman of the Board, said that for the six months ended June 30, the company had achieved net profit of US$9,588,122, an upswing of 7.5% compared to last year's earnings. Sales rose 9.1% to US$39,999,135 compared to last year. 
 
In the three months ended June 30, sales climbed 11.6% to US$20,190,995 year-on-year.
 
Operating profit jumped 18.7% to US$3,486,525, while net profits were US$3,747,806, down 9.3% compared to the same quarter last year. 
 
Commenting on the results, Mr Al Moayyed said the company had achieved a solid six-month performance.
 
Mr Abdulla Buhindi, Managing Director,  Bahrain Duty Free Shop Complex, said the company’s upgrading of all shops in the departures area was now complete and had impacted on the increase in sales and passenger average spend in the first half
 
Mr Abdulla Buhindi, Managing Director, said the company’s upgrading of all shops in the departures area was now complete and had had a direct impact on the increase in sales and passenger average spend in the first half of the year. 
 
He concluded by stating that the company remained focused on delivering a first-class customer service and unique shopping experience for all its customers.