FINANCIAL NEWS

Bahrain- GHG posts $8.9m profit in Q1

04 May 2010

(MENAFN) Bahrain-based Gulf Hotels Group (GHG) said that it has generated a net profit of $8.898 million in the first quarter of the year, up 6.5 percent on the same period last year, Gulf Daily News reported.

Company Chairman Farouk Almoayyed said that the financial results of the first three months of this year had matched expectations and that the group achieved a gross operating revenue of $23.6 million in comparison with $21.07 million achieved last year, an increase of 12.15 percent.

It is worth mentioning that GHC is the owner and operator of the Gulf Hotel, Gulf Convention Centre, Gulf Executive Residence, Gulf Executive Offices and Gulf Brands International.

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