Chairman Farouk Al MoayyedBahrain Duty Free Shop Complex (BDFSC) reported a net profit of BD3.563 million for the half year ended 30 June 2013. The Company achieved with a reported increase of 8% compared to the same period in 2012. Earnings per share rose to 33 fils per share, up from 30.5 fils per share. For the second quarter, net income rose to BD 1,934,067 recording an increase of 36% over the same quarter in 2012. Total Equity on Company’s Balance Sheet saw growth of 5.7% to BD39.7 million.
“The half yearly profits were impressive, despite the challenging business climate,” the Chairman Farouk Al Moayyed, said.
The Board of Directors has recommended a cash dividend of 20% to the shareholders valued at 20 Fils per share.
Abdulla Bu Hindi“The Company is currently working on several development projects in line with the company’s strategy to provide high levels of efficiency and excellence in service to travelers; including the refurbishment and upgrade of the Arrivals duty-free shop at the Bahrain International Airport,” Abdullah Buhindi, The Managing Director, said.
“The project will commence next month and is expected to finish in November.”
“The Company is gearing up to transfer from its current headquarters located in Juffair to a new location adjacent to Bahrain International Airport. “That it was important for the Company’s headquarters to be close to where the company runs its core operation. The office move is expected to occur in September 2013,” Buhindi added.
