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Wed 18 Feb 2015 12:14 PM

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Bahrain Duty Free 2014 profit rises 30%

Profit from investments hit $9.93m, a surge of 75.8% over 2013

Bahrain Duty Free 2014 profit rises 30%

Airport retailer Bahrain Duty Free reported record net profits of $22.7 million in 2014 – up 32.7 percent year-on-year.

The retailer also saw its basic earnings per share increase 35.6 percent amounting to $0.21, according to the Moodie Report.

In its financial results for the year ending December 2014, Bahrain Duty Free said profit from investments hit $9.93 million, representing a surge of 75.8 percent over 2013.

Fourth quarter net profit also showed solid growth, increasing to $7.48 million from $3.92 million in 2013. Shareholder equity grew 7.5 percent $118.7 million, while the company’s investment portfolio increased by 15.5% to $76.6 million. 

Board chairman Farouk Almoayyed attributed rising sales to continued focus on variety and quality, and on new marketing campaigns and customer service, the Moody Report said.

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