LATEST NEWS

Bahrain Duty Free Congratulates the Winner of our 4th Cash Raffle for USD 10,000 – Mr. IGNATIUS NAZARETH ' Indian' – Ticket No. 0143

From Left to Right: RAED ALJOWDER – BAC Senior Officer Tenant Relations, HISHAM AL SALOOM – Deputy Head of Operations, SUJAT AMEEN - Head of Business Support, Passenger, AHMED ALABBASI - BAC Head Tenant Relations and PARVEZ MUSHTAQ – Shop floor Manager

Added on 12 June, 2019

Bahrain Duty Free Congratulates the Winner of the 3rd Cash Raffle for USD 10,000 – Mr. ARJUNAN VELAYUDHAN ' Indian' – Ticket No. 0190

From Left to Right: RAED ALJOWDER – BAC Senior Officer Tenant Relations, PARVEZ MUSHTAQ – Shop floor Manager, SUJAT AMEEN - Head of Business Support, Passenger, DOMINIC CARROLL– Head of Finance, AHMED ALABBASI - BAC Head Tenant Relations

Added on 27 May, 2019

Bahrain Duty Free Congratulates the Winner of AUDI A8 – Mr. RAMACHANDRA SANJAY ' Indian' – Ticket No. 0490

From Left to Right: RAED ALJOWDER – BAC Senior Officer Tenant Relations, HISHAM AL SALOOM – Deputy Head of Operations, SUJAT AMEEN - Head of Business Support, Passenger, DOMINIC CARROLL– Head of Finance, AHMED ALABBASI - BAC Head Tenant Relations

Added on 20 May, 2019

Bahrain Duty Free Congratulates the Winner of our Cash Raffle USD 100,000 – Mr. Hamad Alsahoo ' Kuwaiti' – Ticket No. 0853 (Online Ticket)

From Left to Right: RICHARD WILKINSON – Head of Purchasing, SUJAT AMEEN - Head of Business Support, BASSAM ALWARDI – General Manager
Passenger, JEAN SILVEIRA – Head of Human Resource, AHMED ALABBASI - BAC Head Tenant Relations and DOMNICK O’REILLY – Head of Operations.

Added on 13 May, 2019

Bahrain Duty Free Congratulates the Winner of The 2nd Cash Raffle for USD 10,000 – Mr. Manaf Kakkassery ' Indian' – Ticket No. 0234 (Online Ticket)

Bahrain Duty Free Congratulates the Winner of The 2nd Cash Raffle for USD 10,000 – Mr. Manaf Kakkassery ' Indian' – Ticket No. 0234 (Online Ticket)

From Left to Right: RAED ALJOWDER - BAC Senior Officer Tenant Relations, HISHAM AL SALOOM – Deputy Head Of Operation, SUJAT AMEEN - Head of Business Support, Passenger, JEAN SILVEIRA – Head of Human Resource, AHMED ALABBASI - BAC Head Tenant Relations, HELAL ALSAADOON – BAC Director Terminal Operations.

Added on 21 April, 2019

Bahrain Duty Free Congratulates the Winner of Cash Raffle USD 10,000 – MR. Majed Juma Alabbar 'Bahraini' – Ticket No. 0225 (Online Ticket)

From Left to Right: MAZIN MAJED – Shop floor Manager, HISHAM AL SALOOM – Deputy Head Of Operation, SUJAT AMEEN - Head of Business Support, Passenger, AHMED ALABBASI - BAC Head Tenant Relations, RAED ALJOWDER - BAC Senor Officer Tenant Relations and JEAN SILVEIRA – Head of Human Resource.

Added on 07 April, 2019

Annual General Meeting

The shareholders of Bahrain Duty Free Shop Complex (DUTYF) on Tuesday during the annual general meeting (AGM) have approved the payment of the cash dividend of BD7.11 million for the financial year of 2018.

The AGM and EGM meetings were chaired by Farouk Y. Al Moayyed Chairman and attended by the board members and the shareholders who also elected the new board of directors following an election in presence of the representatives of regulators and external auditors.
Addressing the general assembly, Farouk Y. Al Moayyed the Board Chairman informed the shareholders about the performance in 2018 and healthy start of business in the first quarter of the current year.

Earlier the Company announced that it had achieved a net profit of BD 7.47 million compared to BD 7million in the previous year representing an increase of 5.3 per cent. The company also achieved an operating profit of BD 6.09 million compared to BD 5.39 million in the previous year representing an increase of 13.1 per cent. Total operating expenses BD 13.46 million compared to BD 11.84 million in the previous year representing an increase of 13.6 per cent during the year and within this the main driver was Royalty expense of BD 5.94 million compare to BD 4.93 million in the previous year which was up 20.5 per cent.
Total comprehensive income BD 7.87 million compared to BD 5.99 million in the previous year representing an increase of 31.3 per cent mainly due to other comprehensive Income for the year was BD 399,508 compared to a negative BD 1.13 million last year, the improvement as a result of positive gains on their Securities held during 2018. Revenue of BD 36.41 million were achieved compared to BD 31.98 million in the previous year representing an increase of 13.8 per cent. Total investment income BD 1.37 million compared to BD 1.70 million in the previous year representing an decrease of 19.4 per cent due primarily to impairments taken in the year on their Property Investment Portfolio.
Total shareholders’ equity for the year 2018 was BD 51.25 million compared to BD 49,96 million last year, up by 2.6 per cent. Total assets were BD59.19 million compared to BD 56.75 million in the previous year, an increase of 4.2 per cent. Basic earnings per share rose 6 per cent to 53 fils per share compared with 50 fils in 2017.

Added on 28 March, 2019

Bahrain Duty Free Congratulates the Winner of BMW 740Li – MR. ROBERT G. CALDERWOOD 'British' – Ticket No. 0568

Left to Right: DOMINICK O’REILLY - Head of Operations, BASSAM ALWARDI – General Manager, ROBERT G CALDERWOOD– Winner, Winner’s Wife, Sales Assistant, SUJAT AMEEN - Head of Business Support,  RICHARD WILKINSON – Head of Purchasing.

Added on 13 March, 2019

Bahrain Duty Free Congratulates the Winner of BMW 740Li – ROBERT G. CALDERWOOD 'BRITISH' – Ticket No. 0568

From Left to Right:   PARVEZ MUSHTAQ – Shop floor Manager, SUJAT AMEEN - Head of Business Support, BASSAM ALWARDI – General Manager, LISA WHITE – Passenger, HISHAM AL SALOOM – Deputy Head Of Operation and JEAN SILVEIRA – Head of Human Resource.

Added on 20 February, 2019

Announcement regarding Nomination for Board Membership

Bahrain Duty Free Shop Complex would like to announce the opening of the election for candidacy to fill ten seats of the Board of Directors membership for a three-year term (2019-2020-2021) as per Article (29) of the Articles of Association of the Company and as per Article (175) of Bahrain Companies Law.

The ballot process for the election will be carried out during the upcoming Annual General Meeting of the company dated Tuesday 26 March 2019.

Conditions for Nominations:

The candidates shall abide by the terms of the board of directors’ membership provided for in Article (29) of the Articles of Association of the company and Article (173) of the Commercial Companies Law promulgated by Legislative Decree No. (21) of 2001 and its amendments. Meanwhile, the following conditions must be met by the candidates:

1. He/She shall enjoy the legal capacity to act.

2. He/She shall not have been previously convicted for an offence of bankruptcy by default or fraud nor for any crime affecting his/her honor or integrity nor for an offence by reason of his/her breach of the provisions of this Law unless he/she has been reinstated.

3. He/She shall not be prohibited from assuming the membership of the board of directors of a joint stock company in accordance with the provisions of the Bahraini Companies Law No. (21) of 2001 or any other laws in force in the Kingdom of Bahrain.

Required documents:

• To submit a formal letter of candidacy, provided that the declaration should include the disclosure of any work/business managed directly or indirectly, which constitutes competition for the company, the names of the companies and entities in which he/she is working for or being the membership of the board of directors.

• Curriculum Vitae of the Candidate

• Copy of the Smart card and Passport of the Candidate

Candidates wishing to nominate themselves to the Board of Directors for the next cycle should be sure to provide us with all the required documents mentioned in this announcement and send them no later than Tuesday 5th March 2019 to the Bahrain Duty Free Shop Company either by hand or to be delivered to the company address (Building:145-A, Road: 2403, Block: 224 Al Barsha Building - Al Muharraq PO Box 1714) or by e-mail to sadiq@bdutyfree.com

The candidates’ names and the relevant documents submitted will be disclosed and published on the Bahrain Bourse website and on the Company›s website, at least five days prior to the date of the AGM. Should you require any further information or inquiries, please contact the Company Board Secretary

Mr. Sadiq Ismail on 17337137 or email to sadiq@bdutyfree.com

 

Farouk Y. Almoayyed

Chairman

Added on 14 February, 2019