By Sarah Townsend
Profit from investments hit $9.93m, a surge of 75.8% over 2013
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.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.