Bahrain Duty Free has reported a net profit of $15.2 million in the first nine months of the year, up 12.3 per cent compared to last year.

The company’s net income rose to $5.9 million in the third quarter, which is a 44.7 per cent increase compared to the same period last year.

This exceptional growth came on the back of the disposal of an investment, earning a profit of $1.4 million.

Sales in Q3 were $18.3 million, ahead of last year by 4.6 per cent, while operating costs were down 2 per cent. Profits before investment income were 8.9 per cent.

Around 4.7 million passengers travelled through the airport during the nine-month period, an increase of 10.8 per cent, contributing significantly to the sales performance of $54.9 million.

Operating costs grew by 2.1 per cent only, resulting in operating profits increasing by 11.4 per cent.

“The first nine months profits were excellent and complemented the company’s operational and investment strategies. In addition to passengers, the marketing campaigns, product variety and enhancement to customer service impacted on increasing the sales,” said Farouk Al Moayyed, chairman of Bahrain Duty Free. – TradeArabia News Service