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FINANCIAL NEWS
Bahrain Duty Free posts 17.4% growth in 2012 profit
24 Feb 2013
(MENAFN) Bahrain Duty Free announced that net profit climbed 17.4 percent in 2012 from the previous year to USD16.97 million, reported Gulf Daily News.
Gross profit in the year rose by 6 percent, while gross profit margin grew by an extra 3.2 percent.
Meanwhile, the company said that total revenue reached USD71.99 million, representing an annual increase of 2.7 percent.
It added that investment income grew by 8 percent to USD5.75 million, whereas impairment on investments plunged by 53 percent, to nearly USD1 million.
Furthermore, the investment portfolio stood at USD47.90 million, with a jump of 36.6 percent from a year before.
It is worth noting that the Duty Free posted a gain of 13.7 percent in the return on average equity, which stood at 17.4 percent.
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