Mubasher: Gulf Hotels Group reproted a 21% year-on-year decrease in net profits attributable to shareholders during the first quarter of 2019.
The group’s profits amounted to BHD 2.29 million during Q1-19, down from BHD 2.89 million in Q1-18, according to a statement to Bahrain Bourse (BHB).
Year-on-year, the hospitality firm’s revenues rose to BHD 10.08 million in the three-month period of 2019, from BHD 8.71 million, while operating costs increased to BHD 6.52 million, against BHD 5.63 million.
From January to December 2018, Gulf Hotels Group’s profits slumped to BHD 6.921 million, versus BHD 11.036 million in 2017.
The group’s profits reached BHD 1.181 million during Q4-18, compared to BHD 2.356 million in Q4-17.
