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FINANCIAL NEWS
Bahrain’s Seef Properties reports USD4.4m profits in Q1
14 May 2012
(MENAFN) Bahrain-based Seef Properties posted a 20 percent growth in quarterly profits on stronger revenue, Trade Arabia reported.
The company said it made USD4.4 million net profit during the first quarter, up from USD3.6 million a year earlier.
Chairman Shaikh Abdulla bin Khalifa Al Khalifa said the company gained higher revenue, mainly driven by strong performance from the leisure sector.
General Manager Robert Addison said that the return of stability to the kingdom helped in winning back consumers in all retail properties.
Addison also unveiled plans for a number of large-scale promotions and new outlets to operate this year.
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