Bahrain Duty Free profits increase by nearly 25% for first nine months of 2015

Bahrain Duty Free, part of the Aer Rianta group, has recorded net profits of approximately US$18.9m for the first nine months of 2015, an increase of 23.9% when compared with the same period last year.

Bahrain Duty Free operates several duty free outlets within Bahrain International Airport, as well as a departures and arrivals shop, and a landside outlet called A to Z. Bahrain Duty Free also operates a store at Khalifa Bin Salman Port.

For the third quarter (Q3) of 2015, the company posted a net profit of approximately US$5m, representing a decline of 14.8% compared with the same period in 2014. The decline relates to higher than normal profits gained from the disposal of certain investments in 2014.

Farouk Almoayyed, chairman for Bahrain Duty Free, said, “The nine month profits are excellent and complement the company’s operational and investment strategies.”

Abdulla Buhindi, managing director, Bahrain Duty Free, said, “Profits from investments in the nine months up to September 2015 were US$7,368,377, increasing by 27.3% when compared to the US$5,786,448 last year. The investment portfolio decreased by 1.1% during the period due to the disposal of some investments.”