Bahrain Duty Free Shop Complex announced at a meeting of its board of directors yeterday the financial results for the full year ended December 31, 2024.

Abdulla Buhindi, chairman of the board, stated that the company had achieved a net profit of BD344,327 during the fourth quarter of 2024 compared to BD584,334 for the same quarter of the previous year representing a decrease of 41.1 per cent mainly due to impairment of property and land.

Earnings per share during the quarter were 24.20 fils compared to 4.10 fils in the same quarter of last year.

Total comprehensive loss for the quarter was BD226,327 due to prevailing market conditions and comparing to a loss of BD 325,747 in the same quarter of last year.

For the full year ended December 31, 2024, the company achieved a net profit of BD5,015,428 compared to BD4,286,890 in the previous year representing an increase of 17.0pc. Earnings per share as of December 31, 2024, were 35.25 fils compared to 30.13 fils last year.

Total comprehensive income increased to BD3,447,428 compared to BD2,388,987 in the previous year representing an increase of 44.3pc.

Profits from investments recorded BD6,053,800 for the year compared to BD5,144,877 in the same period last year representing an increase of 17.7pc.

For the Year ended December 31 2024 and comparing to December 31 2023, shareholders equity is BD43,490,786 comparing to BD44,416,085 representing a decline of 2.1pc, while total assets stand at BD43,870,257 compared to BD44,732,885, down by 1.9pc.

Based on the financial results, the board of directors has recommended for the approval of shareholders at record date, the day on which all shareholders whose names are on the share register will be entitled to dividends, a full year cash dividend of 35pc for share nominal value equivalent to 35 fils per share amounting total of BD4,979,518.

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