“We have had a very encouraging start to 2012 in registering a remarkable revenue growth. This is largely attributed to a strong performance from the leisure sector backed by consistent performance from the retail and hospitality sector of the company’s businesses,” Shaikh Abdulla bin Khalifa Al Khalifa, Chairman of Seef Properties, said.
“Seef Properties’ success in the first quarter of 2012 was due to a sound, well managed and diversified investment approach accompanied with the implementation of successful marketing and promotional campaigns,” he added.
The company’s shareholders equity increased by 7% from BD105.9million in the first quarter of 2011 to BD111.3million for the same period this year with the earnings per share valued at 3.6fils as compared to 3 fils in 2011.
“I am confident that this growth trend will continue to accelerate as the year progresses and will assist in building on our successful track records; placing ourselves in an even stronger position in the months to come,” Shaikh Abdullah, added.
“The restoration of economic stability in the Kingdom of Bahrain has assisted a great deal in elevating foot traffic in all our retail properties and this has given us a jump start to a positive and healthy profit growth,” Robert Addison, General Manager of Seef Properties, said.
“Seef Properties has entered a positive year focused on identifying new opportunities in line with the fast-changing economic environment and consumer trends. As the year progresses we hope to meet and even exceed expectations in all aspects and thus continue to deliver positive results and ensure sustainable growth for our shareholders,” he added.
Addison further confirmed that a number of large-scale promotions and new outlets are planned for roll-out this year and will be announced in due course.