Bahrain Duty Free Shop Complex has reported nine-month sales up +9% to Bahraini Dinars 23,467,221 ($62.2m) compared to prior year’s sales of BD21.5m ($57m).

 

The company said that the upgrading of all of its departures area shops helped considerably, with a direct impact noted on sales during the year.

 

9M NET PROFITS +9% TO $15.3M

Managed by Aer Rianta International Middle East, Bahrain Duty Free generated BD5.8m ($15.3m) in net profits up +9.1% for the nine-month period ended 30 September 2017, according to Farouk Yousuf Al Moayyed – Chairman of the Board.

 

He added that the company’s shareholder equity (as of 30 September) stood at BD49,689,919 ($131.7m) compared to BD50,771,096 ($134.6m) last year, while earnings per share rose by 9.1%.

 

Meanwhile, in the three months ended 30 September, sales reached BD8,387,547 ($22.2m) compared to BD7,667,795 ($20.2m) last year, representing a 9.4% increase. At the same time, net profit rose by +10.5% to BD2,245,336 ($5.9m) compared with the same period a year ago.

 

INVESTMENT PORTFOLIO WORTH $103.1M

Bahrain Duty Free Managing Director Abdulla Buhindi added that profits from investments recorded BD1,624,818 ($4.3m) compared to BD 1,542,972 ($4m) last year, representing a +5.3% rise. The company says its investment portfolio also increased by +19.9% during the year and now stands at BD38,904,812 ($103.1m).

 

These results follow the unveiling of last month’s details relating to Bahrain Airport’s new ‘Airport Modernisation Programme’, as revealed by Bahrain Airport Company (BAC) CEO, Mohamed Yousif Al Binfalah at the 2nd Airports Arabia Conference.

 

This upgrading is aimed at transforming the airport into ‘a world-class facility’ with higher volume capacities and an ‘improved passenger experience’.

 

LARGER RETAIL & F&B FACILITIES…

Mr. Al Binfalah said: “The Airport Modernisation Programme will elevate all aspects of the airport experience, while at the same time building capacities significantly. Once completed, the main passenger terminal building will have an area of 210,000sq m and the airport overall will be able to accommodate an annual volume of 14m passengers.

 

“There will be new check-in counters, including e-gates offering passengers more convenience and speed. The Departure Hall will have a much expanded retail and food and beverage offerings – including the development of a dedicated other airline CIP lounges.”