Bahrain Cinema's Qatar screens to open in H2
Manama, March 27, 2014
The Bahrain Cinema Company's operations in Qatar are expected to be opened for commercial activities in the second half of the year, enhancing profitability, chairman Dr Essam Fakhro has said.
"Our new projects of 13 screens Cineplex in Gulf Mall and three screens Cineplex in Al Khor Mall, both in Qatar, are delayed because of the mall management," he told shareholders at the company's annual general meeting, reported the Gulf Daily News. Our sister publication.
"The company has entered into a joint venture agreement with Business Trading Company-Qatar for the opening of a new Rendezvous restaurant in that country.
"We are still exploring opportunities to enter into new ventures in Bahrain as well as other GCC countries," he added.
Dr Fakhro said the company has reported 38 per cent increase in operating profit to BD5.77 million ($15.3 million) last year, as compared to BD4.2 million in 2012. Net profit increased by 42 per cent to BD6,297,407 from BD4,437,512 earlier. This translates to earnings per share of 115 fils last year, as against 81 fils in 2012.
The board recommendation of cash dividend of 50 fils per share aggregate of 50 per cent of base equity and 20 per cent bonus share issue - two bonus shares for every 10 shares held, was also approved by shareholders. – TradeArabia News Service