August 7 2019  |  Retailers

Bahrain Duty Free posts profit upswing for half year

By Hibah Noor


Bahrain Duty Free Shop Complex Managing Director Abdullah Buhindi

Bahrain Duty Free Shop Complex announced an uplift in profit and sales for the half year ended June 30 2019.

Farouk Yousuf Almoayyed, Chairman of the Board, said the company had achieved a net profit of US$4,558,737 during the second quarter of 2019, down 8.6% compared to US$4,985,893 for the same quarter of the previous year.

The company achieved a 1.1% increase in operating profit to US$3,961,268 in the quarter.

Total comprehensive income rose to US$5,752,371 compared to US$4,898,361 in the previous year, up 17.4%.

Sales in the second quarter climbed by 1.2% to US$23,675,398.

For the six months ended June 30 2019, the company achieved a net profit of US$11,396,286 compared to US$12,299,188 in the previous year, representing a decrease of 7.3%.

Operating profit during the half year of US$8,114,443 rose 3.2% compared to the prior-year period.

Total comprehensive income for the first six months was US$14,124,668 compared to US$12,778,764 in the previous year, up 10.5%.

Managing Director Abdulla Buhindi said revenues for the six months were US$48,458,886, up 4.8% compared to US$46,233,151 last year.

He added: “We have focused our efforts on increasingly supporting the sales process. That has contributed to an increase in the average transactional value, including our customer service efficiency.”

Buhindi noted that Bahrain International Airport’s development program was progressing and had “delivered a significant completion rate”.

He concluded by thanking the Executive Management and all employees of the company for their hard work.

Brand News

October 29 2020

L’Oréal produces first plastic…

​French beauty group L’Oréal, together with its partners LanzaTech and Total, have premiered the world’s first sustainable…

By Mary Jane Pittilla

October 29 2020

Quintessential Brands scoops Gin…

​Quintessential Brands has been recognized by one of the top global drinks industry competitions, the International Spirits…

By Mary Jane Pittilla

October 29 2020

Dufry announces changes to executive…

Jose Antonio Gea, Deputy Group CEO of leading operator Dufry, will step down from his position of Deputy CEO and member of…

By Mary Jane Pittilla

October 26 2020

BLOOM Gin provides support to Women…

BLOOM Gin is giving budding female entrepreneurs the chance to win a share of £25,000, turning their passion projects into…

By Laura Shirk

October 21 2020

J. Cortès lights up cigar category…

​Cigar brand J. Cortès has introduced three new Corona terroir tubes

By Mary Jane Pittilla

October 20 2020

Jim Beam announces TR exclusive…

​Jim Beam Bourbon has announced the launch of Lineage – a batched premium expression exclusive to global travel retail

By Laura Shirk

October 19 2020

Beam Suntory launches first ever…

Beam Suntory has launched the first-ever world blended whisky, Suntory World Whisky ‘Ao’, exclusive to global travel retail

By Wendy Morley

October 19 2020

AHC to introduce new skincare products…

​Unilever-owned premium skincare brand AHC is to enhance its travel retail offerings with several new products that have…

By Mary Jane Pittilla

October 16 2020

DFD launches Writing & Arts category…

Duty Free Dynamics, major regional distributor within the Americas’ travel retail channel, is pleased to announce the debut…

By Laura Shirk

Copyright 2020 DutyFree Magazine. All rights reserved. Privacy Policy Sitemap