Bahrain Flour Mills Company announces Q1 financial results

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Bahrain - The board of directors of Bahrain Flour Mills Company (Al-Matahin) held their meeting yesterday, chaired by chairman Basim Al Saie.

The board took a number of decisions, including the approval of the company’s financial statements for the three months ended 31 March 2025.

Mr Al Saie extended his sincere thanks and gratitude to the board of directors, the executive management and all company employees for their support and continuous endeavour to achieve the best results, wishing Al-Matahin further progress and prosperity.

Bahrain Flour Mills company announced its financial results for the three months ended March 31. The company incurred a net loss for the period of BD297,874, compared to a net profit of BD597,147 for the same period of 2024.

The reasons for the loss of the first quarter of the year 2025 in comparison to the same period of 2024 is attributed to the decrease in fair value of investment, increase in assets depreciation, in addition to, new plant lease provisions.

Basic and diluted losses per share for the first quarter decreased to a loss of 12 fils compared with 24.05 fils profit in the same period of 2024.

The company also incurred an operating loss during the first quarter of the year 2025 of BD32,175 compared to an operating profit of BD126,238 for the same period in 2024. The operating loss derived from the depreciation of the new production line and the new leased land amortization reserved for the planned new mill plant.

With regards to sales, the company achieved BD1,940,755 for the first quarter of 2025, compared to BD2,210,812 for the same period in 2024, with a decrease of 12pc due to low demand on uncontrolled flour products and decrease in bran production.

The company’s total equity decreased by 4pc to BD25,920,102 compared with BD26,863,596 recorded as of December 31, 2024.

The total assets for the period reached BD42,844,064 compared to BD39,713,717 in the year 2024, with an increase of 8pc.