(MENAFN) Bahraini Seef Properties reported it has posted an operating profit of USD22.45 million during the January-September period of this year, compared with USD21.77 million for the same period last year, while registering USD7.31 million in operating profit for the July-September period compared with USD7.18 million registered in the same quarter last year, Gulf Daily News reported.
During the first nine months of this year, the company's revenue reached USD24.09 million compared with USD23.95 million for the same period in 2013, an increase which is attributed to an increase in revenue from rental income and Fraser Suites, while revenue for this year's third quarter reached USD8.24 million, which is an increase compared with USD8.13 million registered in 2013.
Meanwhile, the company posted USD13.69 million in net profit for January-September period compared with USD13.29 million in 2013, while the third quarter net profit reached USD4.66 million in comparison with USD4.58 million during the previous year.
"The performance reflects continuous growth in the business and shows that the increase in revenue, operating profit and net profit has been achieved despite temporary closure of Magic Island in Seef Mall for six months," Seef Properties Chairman said.
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