Bahrain Duty Free ‘outlook positive’
Manama, March 15, 2012
Bahrain Duty Free had a good start to the year and things are looking more positive than a year ago, said its chairman, adding that it has proved itself as the premier travel retail operator at Bahrain International Airport.
In his annual review, Farouk Almoayyed said while 2011 had proved a challenging year.
"In view of our challenging environment, it is increasingly important to ensure that we have a strong organisational structure in place," he said.
"Accordingly, we are upgrading our IT systems, enhancing human resources, implementing best practice and reviewing all business processes and procedures throughout the company. These measures will ensure Bahrain Duty Free is in a stronger position to take up future growth opportunities," he added.
"Such an opportunity is the proposed extension of the terminal at the airport. The terminal capacity will increase from 8.5 million passengers to 13.5 million per annum.
"Bahrain Airport Company and Bahrain Duty Free are conducting detailed discussions concerning an enhanced duty free shopping experience that the extension will offer."
He said consolidated sales for 2011 amounted to BD26.78 million ($71 million), a fall of 14.5 per cent on the previous year, while operating profit at BD6.58 million was down 20 per cent. – TradeArabia News Service