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FINANCIAL NEWS
Bahrain- GHG reports USD7.4m profit in Q1
23 Apr 2013
(MENAFN) Gulf Hotels Group chairman, Farouk Almoayyed announced that the company’s net profit for the first quarter amounted to USD7.4 million, reported Gulf Daily News.
He added that in spite of a decline in revenue from USD21.8 million to USD21.4 million within a year; the Group recorded a 0.19 percent increase in profit.
The hotel operator, which faces an ever changing business environment, said that it will install a new laundry facility, in order to cater for future demand.
Meanwhile, the Group plans to upgrade a holiday village with a luxury spa construction that will begin later this year.
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