Bahrain Duty Free congratulates the winner of the Volvo XC60 - Mr. Sam Mushregi "American" ticket number 2853
Pictured above (left to right) Mr. Sujat Ameen (Business Support Manager), Mr. Bassam Al Wardi (Deputy General Manager ), Mr. Sam Mushregi (Winner), Mr. Fadi Allam (General Manager), Mr. Hisham Al Saloom (Deputy Head Of Operation ), Ms. Deirdre Spillane (Head of Purchasing).
Bahrain Duty Free congratulates the winner of the BMW 520 - Mr. Rashed Al-Zayani "Bahraini" ticket number 1030
Pictured above (left to right) Mr. Sujat Ameen (Business Support Manager), Mr. Bassam Al Wardi (Deputy General Manager ), Mr. Rashed Al-Zayani (Winner), Mr. Fadi Allam (General Manager), Mr. Hisham Al Saloom (Deputy Head Of Operation ), Ms. Deirdre Spillane (Head of Purchasing).
Bahrain Duty Free is proud to announce the winners of the Magnificent 10 Car Draw 286 which took place on May 13th 2015 at Bahrain International Airport. The lucky winners are:
1. VOLVO XC60 car winner – Mr. Alphonso Machado (Indian) ticket number 710
2. VOLVO XC60 car winner – Mr. Mohammed Alhamidi (Saudi) ticket number 2755
3. VOLVO XC60 car winner – Mr. Sam Wingote Mushreqi (American) ticket number 2853
4. INFINITI G25 car winner – Mr. Hasan Khalil Ebrahim (Bahraini) ticket number 2221
5. INFINITI G25 car winner – Mr. Ashok Kumar Chadha (Indian) ticket number 2228
6. BMW 520 car winner – Mr. Pulickan Ittichan Joisan (Indian) ticket number 462
7. BMW 520 car winner – Mr. Rashed Abdullatif Al-Zayani (Bahraini) ticket number 1030
8. BMW 520 car winner – Mr. Yusuf A.Rasool (Bahraini) ticket number 444
9. LEXUS ES350 car winner – Mr. Rufo Pullan (Filipino) ticket number 1681
10. LEXUS ES350 car winner – Mr. Manoj A.Patel (Indian) ticket number 35
Pictured above at the draw are (left to right) Mr. Hassan Ali Hassan Ali (Sales Assistant), Mr. Fadi Allam (General Manager), Mr. Helal Al Saadoon ( BAC - Terminal Operations Manager), Mr. Mohammed Thamir (BAC-Chief Airport Operating Officer), Bassam Al Wardi (Deputy General Manager ), Ms. Louann Bautista (Passenger - who drew the winning tickets), Ms. Deirdre Spillane (Head of Purchasing), Mr. Dominic Carroll (Head of Finance), Domnick O’Reilly (Head Of Operations), Shibu Abraham ( Senior IT Manager), Ms.Enas Sameer (Sales Assistant).
We would like to congratulate all winners on their win, and thank all participants for their support in this draw.
Manama, Kingdom Of Bahrain; Bahrain Duty Free Shop Complex (BDFSC) on Tuesday May 12th announced its financial results for the first quarter of 2015. The Group posted a net profit of BD 2,330,375 representing a 28.5% growth in the quarter up from BD 1,812,966 last year. Basic earnings per share increased by 30.1% from 15.3fils to 19.3fils per share.
The financial results for 2015 show a slight decline in shareholder equity from BD 44,740,315 to BD 44,043,954 (December year-end) due mainly to a dividend distribution in the quarter.
The Group reported Gross Revenues of BD 6,591,241 (BD 6,411,673 in 2014) achieving a 2.8% growth. Investment income for the quarter performed well with an income of BD 1,218,535 compared BD 714,731 in the same quarter last year. This 70.5% increase includes a capital gain of BD489,703 on the disposal of an Investment Property. The investment portfolio grew 3.3% in the quarter and now stands at BD 29,833,211.
Commenting on the results, the Managing Director Mr. Abdulla Buhindi said that the Company had produced another solid performance in the first quarter of 2015 on the back of strong passenger growth, an improved selection of goods as well as active marketing campaigns and good customer service. He went on to say that our overall profitability remains strong and we hope to build on this momentum in the coming quarters this year.
To mark the running of the 11th Formula 1 race in Bahrain on April 19th, Bahrain Duty Free partnered with MasterCard for a month long promotional campaign which will reward all customers shopping and paying using their MasterCard credit card with a shopping voucher with a value of up to 15% of their purchase value. The promotion is running for the month of April; in all of its duty free outlets at Bahrain International Airport.
Bahrain Duty Free Deputy General Manager, Bassam Al Wardi commented on the initiative by highlighting that the company are delighted to once again partner with MasterCard with this initiative; particularly given the importance of the Formula 1 event within the Kingdom of Bahrain. The race is the highest profile event to take place in Bahrain each year; with in excess of 4,000 visitors coming to Bahrain in the run up to the race; and it gives us as a company an opportunity to ensure that they not only receive the best possible service, but also an amazing promotional offering.
Girish Nanda, Area Head - Saudi Arabia, Bahrain and Yemen, MasterCard commented: “We are delighted to partner with Bahrain Duty Free and to provide MasterCard credit cardholders with a rewarding experience as they arrive to witness one of the most exciting sporting events in the region. MasterCard credit cards enable customers to make fast, convenient and secure purchases using a range of innovative payment solutions anytime and anywhere.”
The results of the campaign speak for themselves; as after the first 20 days of the campaign sales using MasterCard in excess of 50 Bahraini Dinars increased by in excess of 128%.
The campaign runs until April 30th.
Awards 50% cash dividend to Shareholders & a Bonus Share issue of 10%
The annual general meeting (AGM) and extraordinary general meeting (EGM) of Bahrain Duty Free Shop Complex was held on Monday March 9 2015 and chaired by Chairman Mr. Farouk Yousuf Almoayyed.
In the meeting, Mr. Almoayyed announced that the Company had achieved a net profit of BHD 8,557,679 for 2014 recording a growth of BHD 2,109,794 or 32.7% compared to prior year. Earnings per share increased to 80fils from 59fils per share. Almoayyed added that based on the results, the shareholders approved during the AGM, the distribution of a cash dividend of BHD 5,344,551 (50fils per share), the allocation of BHD168,000 for Director Fees, and a transfer to the Charity Reserve account of BHD 171,094.
During the EGM, the shareholders approved the increase in the issued and authorized Share Capital from BHD10,689,102 to BHD 11,758,012.
Mr. Almoayyed explained that the Company’s strategy in the variety and quality of goods and the focus on marketing campaigns as well as customer service were all instrumental in increasing sales by 7.8% for 2014 with total sales of BHD 28,079,807 recorded. He went on to say that investment earnings surpassed expectations by recording BHD3,745,910 in 2014, a jump of 75.8% on a year earlier. The Investment Portfolio increased by 15.5% and now stands at BHD 28.9 million.
Mr. Almoayyed explained that 2014 was full of accomplishments where Bahrain International Airport witnessed a 10.4% increase in passengers. He added that Bahrain Duty Free had completed many shop refurbishments during 2014, including the Arrivals shop and the opening of a new fashion shop featuring many new International brands. Almoayyed stressed that the ongoing initiatives taken by the Company to renew its stores had a positive impact in enriching the shopping experience for travelers passing through the Airport. At the same time, he praised the global accomplishment of Bahrain Duty Free and Bahrain International Airport which culminated in the successful partnership to win the Frontier award for best marketing campaign by a Retailer/Airport for 2014 announced during the global duty free conference in October 2014 at Cannes, France.
Bahrain Duty Free announced its sponsorship of the ITF Future Tennis Tournament, it is set to take a place from the 23rd of March until the 4th of April 2015, to be held at the Bahrain Tennis Club Court in Juffair. The Two week tournament is held under the patronage of HH Shaikh Nasser Bin Hamad Al Khalifa, President of the Supreme Council of Youth & Sports and Bahrain Olympic Committee.
Mr. Bassam Al Wardi, Deputy General Manager at Bahrain Duty Free commented “ Bahrain Duty Free is delighted to continue its support of this well respected international sporting tournament. During the past few years, Bahrain branded itself as a regional destination for sports, cultural and economical events. We remain committed towards such initiatives that support the development of the Kingdom and wish all the players the best of luck”
On this Occasion, Mr. Khamis Al Muqla thanked Bahrain Duty Free for this support and generous gesture, he expressed his wish that it would continue in the future tournaments
Bahrain Duty Free Shop Complex announced at a meeting of its Board of Directors on Tuesday February 17 2015, the financial results for the year ended December 31 2014. The Company posted a net profit of US$ 22.7m compared to previous year's earnings of US$ 17.1m representing an increase of 32.7%. Basic earnings per share saw an increase of 35.6 % amounting to 21 US Cents (16 US Cents a year earlier). It also saw the financial results for the fourth quarter of 2014 improve with net profit of US$ 7,484,536 compared to a profit of US$ 3,925,663 last year, an increase of 110.3 % . The financial results for 2014 show a 7.5% increase in Shareholder’s equity to US$ 118.7m compared to last year which amounted to US$ 110.4m.
Commenting on the results, Mr. Farouk Almoayyed, Chairman of the Board stated that the Board had approved the 2014 audited financial statements which recorded the highest profits in the company's history. He explained that the company's strategy in the variety and quality of goods and focus on marketing campaigns and customer service was influential in increasing sales, which in 2014 increased by 7.8% to US$ 74.5m compared to US$69.1m in 2013. Sales in the fourth quarter were US$19.6m compared with US$ 18.7m in the previous year, an increase of 5.8%. Profit from Investments were US$ 9,936,100 compared to the investment earnings for the same period last year which amounted to US$ 5,650,623 which is a record growth of 75.8%. The Investment portfolio increased by 15.5 % to US$76.6m.
Based on these results, the Board of Directors is pleased to recommend to the Annual General Meeting of Shareholders a cash dividend to shareholders of 13 US Cents per share as a final cash dividend of which 5 US Cents per share interim dividend was paid during the year. The Board has also recommended a Bonus share issue of 10%. In conclusion, Mr. Almoayyed thanked the executive management team and the company's employees on the effective and continuous efforts that led to the achievement of these outstanding results.
The Managing Director, Mr. Abdulla Buhindi explained that 2014 was full of accomplishments, where Bahrain International Airport witnessed a rise of 10.4% in the number of passengers. He added that Bahrain Duty free had completed many shop refurbishments during 2014, including the Arrivals shop in addition to opening a new fashion shop, featuring many new International Brands. Buhindi stressed that the ongoing initiatives taken by the company to renew its stores have had a positive impact in enriching the shopping experience for travelers passing through Bahrain International Airport .At the same time Buhindi praised the global accomplishment of Bahrain Duty Free and Bahrain International Airport, which culminated in the successful partnership of Bahrain Duty Free with Bahrain Airport Company to win the Frontier Award for Best Marketing Campaign by a Retailer / Airport of the year 2014 , announced during the global duty free conference, which was held in October 2014 in Cannes, France.
Bahrain Duty Free congratulates the winner of the PORSCHE 911 CARRERA S – Mr. Dinesh Kochhar "Indian " ticket number 0644
Pictured above (left to right) Mr. Dominic Carroll (Head of Finance), Mr. Bassam Alwardi (Deputy General Manager), Mr. Dinesh Kochhar (Winner), Mr. Fadi Allam (General Manager), Ms. Deirdre Spillane (Head of Purchasing), Mr. Hishem Al Saloom (Deputy Head Of Operation ).
Bahrain Duty Free has launched its latest promotion; which offers customers an opportunity to win back the value of their purchase. The initiative allows customers who purchase in the store an opportunity to instantly win back the value of their purchase through purchasing a specific confectionery item; which entitles them to a free scratch card. Speaking about the initiative Bahrain Duty Free General Manager Mr. Fadi Allam outlined how the promotion is aimed at all customers visiting the stores; and that the initial responses from customers was extremely positive; and how pick up of the items exceeded initial expectations.