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Buhindi: Bahrain Duty Free Shop is planning several store upgrade projects |
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BAHRAIN. Bahrain Duty Free Shop Complex has reported first-quarter profits of US$4.8 million, up by +11.3% on the same period last year.
Sales grew by +9%, up by US$17.0 million. The company attributed the growth, in the face of flat passenger traffic at Bahrain International Airport, to strong marketing initiatives and store upgrades.
Managing Director Abdulla Buhindi praised the performance in challenging circumstances. “The company is currently working on several projects at the airport to upgrade shops in line with the strategy to provide high levels of efficiency and excellent services to travellers,” he added.
Operating costs climbed by +4.4% due mainly to increased marketing activities and depreciation, the company said, while investment income grew by +57.4% as a result of the disposal of some investments and increased dividends from new holdings.
Earnings per share were US$0.045, while total equity stood at US$106.4 million, down -3.6% due to a dividend distributed in March.
