Bahrain Duty Free Complex announces sales upswing and begins retail revamp
Bahrain Duty Free Complex has announced its financial results for the nine months ended September 30, 2016 and has started its retail upgrading program at Bahrain International Airport.
Mr Farouk Yousuf Al Moayyed, Chairman of the Board, said the company had achieved a net profit of US$14.2 million compared with last year's of US$18.9 million. The 24.5% drop related to a fall in investment income where a one-off profit was realized last year on the disposal of an investment asset.
Total sales for the nine months ended September 30 rose 2.7% to US$57.1 million.
In the three months to September 30, sales recorded were up 4% to US$20.3 million. Net profit climbed 6.7% to US$5.4 million.
Mr Abdulla Buhindi, a board director of Bahrain Duty Free Complex, said the operator had started the planned upgrading of all shops in the Departures area, in line with company’s strategy to provide its customers with a better shopping experience at Bahrain International Airport.
Candy Cloud, a store selling top toy and confectionery brands, was opened in September.