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Bahrain Duty Free announces BD 8.3 Million in Net Profits for 2016

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Bahrain Duty Free Complex announced it’s financial results for the year ended 31st December 2016, approved by Board of Directors Monday, 20th February 2017.

For the full year 2016, the Group reported Gross Revenues of BD 28,859,618 (BD 28,123,909 in 2015) achieving a 2.6% growth over prior year. Operating profit was BD 4,783,832, declining by 7.5% from BD 5,172,891. Income from Investment activities was BD 3,544,480 recording a decline of 5.8% on the previous year’s figure of BD3,762,384, while net profits reduced from BD 8,935,275 to BD 8,328,312 a 6.8% reduction. Basic earnings per share are 64 fils per share compared with 69 fils in 2015.

At December year-end, total shareholder’s equity stood at BD 50,771,096 an increase of 4.0% over prior year figure of BD48,845,961. In the fourth quarter of 2016, Sales were BD 7,334,757 up 2.5% on prior year while operating profits fell 12.7% to BD 964,996. Investment income increased by 176.2% to BD 1,992,672. The increase coming from a one-off dividend received in the quarter. As a result, net income in Q4 was BD 2,957,568 up 61.9% on same quarter last year.

Commenting on the results, the Chairman Mr. Farouk Al Moayyed, said that 2016 had produced resilient net profits which were testament to the Company’s operational and investment strategies. He went on to say that the Company has made important strategic progress to ensure continued success for the Company.

Managing Director Mr. Abdulla Buhindi added, Passenger volumes increased by 2.6% compared to last year and along with several marketing initiatives, contributed to increase sales. He went on to say that the Company’s Shop upgrades started as planned in July 2016 and by year-end, work was substantially complete. Many new brands and initiatives were-introduced in the Perfumery & Cosmetics area and a new Premium Watch boutique area opened too, to mention a few highlights of the project. This major investment will position the business on a stronger foundation for sustainable growth and profitability in the years ahead.

Added on 20 February, 2017

New Hermes perfumes counter reinforces travellers’ love of all things luxury at Bahrain Duty Free

Upscale French brand adds pop of colour and poetic license to existing Perfumes & Cosmetics space; latest luxury label to expand presence at remodelled departures retail hub

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Travel retailer Bahrain Duty Free has further cemented its luxury credentials with the unveiling of a new Hermès Perfumes counter at Bahrain International Airport’s new look departures retail hub.

Occupying a key location within the popular Perfumes & Cosmetics space, which is home to an ever-evolving collection of premium beauty and fragrance brands, the redefined Hermès counter has increased its physical presence with 15 square metres of space replacing the original three-square-metre footprint.

The renowned French luxury goods brand brings more than 65 years of innovation in the fragrance world to its new Bahrain location, and the combination of fresh, clean lines and distinctive punch of orange that defines the Hermès logo creates a welcoming customer-centric space.

“The passenger journey through the new departures retail hub is taking on a new dimension virtually every week as we continue our season of dynamic phased launches,” said Bassam Al Wardi, General Manager, Bahrain Duty Free.

“It is vital that we acknowledge and act in response to a shifting travel retail landscape, and in extending our portfolio of luxury brands we are satisfying the shopping desires of the travelling audience and working hand-in-hand with all our partners to ensure that Bahrain Duty Free is recognised for its duty free experience,” he continued.

A fixture on Bahrain’s airside retail scene for the last two years, Hermès Perfumes continues to woo customers from around the region and beyond. Commenting on the relaunched counter, Hermès Parfums’ Middle East Director Paul Tager said: “The new setting is home to a sizeable selection of olfactory creations from the house of Hermès; and has been designed as a welcoming space that harbours a world of marvels.

“We invite Bahrain Duty Free customers to explore, among other fragrances, the Hermessence collection. These poetic perfumes represent creative freedom; and are singular compositions that perfectly capture the essence of the perfumer’s craft and skill.”

A team of expertly trained and knowledgeable beauty consultants is also on hand to assist customers in selecting the ideal fragrance match, whether it’s a personal treat, picking up a classic favourite or as a gift.

This latest opening supports other successful recent openings across its 2,300-square-metre footprint, including Aer Rianta International’s proprietary Candy Cloud confectionery concept, the Middle East’s first Johnnie Walker House and new dedicated premium watches space.

Added on 09 February, 2017

Winner of the Maserati Granturismo Sport Ticket No. 1191

Bahrain Duty Free congratulates the winner of the Maserati Granturismo Sport – Mr. Thangarasu Ravichandran “Indian” – Ticket No. 1191

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Pictured above (left to right) Mr. Shane O’Sullivan (Head of Purchasing), Mr. Dominic Carroll (Head of Finance), Ms. Jean Silveira (HR Manager), Mr. Bassam Al Wardi (General Manager), Mr. Thangarasu Ravichandran (Winner), Mr. Sujat Ameen (Head of Business Support), Mr. Neeraj (Sales Assistant), Mr. Shibu Abraham (Head Of IT & Logistics).

Added on 07 February, 2017

Bahrain Duty Free scents success with debut of new Bvlgari fragrances counter

Expanded footprint places iconic Italian brand front and centre as refreshed departures hub continues to add value to airport retail offering

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Travellers using Bahrain International Airport now have even more reason to stop and spend at Bahrain Duty Free with the opening of BVLGARI’s new expanded fragrances counter.

Located at the heart of the Perfumes & Cosmetics section within the duty free and travel retailer’s refreshed departures retail hub, BVLGARI has grown its footprint from 3 to an impressive 12 square metres.

The leading Italian luxury goods house, which has a 130-year old pedigree, is a long-term partner of Bahrain Duty Free, and its iconic black and gold livery is a focal point for the Perfumes & Cosmetics’ passenger journey.

Commenting on the opening, Bassam Al Wardi, General Manager, Bahrain Duty Free, said: “With the unveiling of the new BVLGARI space we have added a further element of upscale excitement to our existing collection of internationally renowned fragrance and cosmetics brands.”

“By creating a stunning showcase such as this, Bahrain Duty Free continues to demonstrate its commitment to delivering a world-class travel retail experience; adding value not only to the passenger and airport experience, but to the Kingdom’s tourism economy,” he added.

“In partnership with Bahrain Duty Free and Aer Rianta International, BVLGARI is proud to be the first brand to unveil its new interior design concept in the newly refurbished Bahrain Duty Free shop,” remarked Loic Le Toux, Area Sales Manager, BVLGARI.

Top selling products covering both women and men’s fragrances, and including Goldea, Jasmin Noir, Omnia, BVLGARI Man and Aqva, create a standout visual counterpoint to the company’s elegant branding and gentle contoured fascia.

“A highlight of the new counter will be the exclusive high-end Le Gemme collection, which is only available at selective doors worldwide. Our luxurious counter concept will further intensify the visibility of BVLGARI perfumes in the travel retail domain; and is equally perfectly aligned with Bahrain Duty Free’s own premium strategy,” said Le Toux.

This latest opening supports other successful recent openings across its 1,500-square-metre footprint, including Aer Rianta International’s proprietary Candy Cloud confectionery concept, the Middle East’s first Johnnie Walker House and new dedicated premium watches boutique.

Added on 30 January, 2017

Winner of the Maserati Granturismo Sport Ticket No. 1191

Bahrain Duty Free congratulates the winner of the Maserati Granturismo Sport – Mr. Thangarasu Ravichandran “Indian” – Ticket No. 1191

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Pictured above (left to right) Mr. Ahmed Awadh (Sales Assistant), Mr. Hisham AlSaloom (Deputy Head of Operations), Mr. Sujat Ameen (Head of Business Support), Mr. Bassam AlWardi (General Manager), Ms. Dima (Passenger), Mr. Shibu Abraham (Head of IT & Logistics), Ms. Joy Rachael (Sales Assistant)

Added on 24 January, 2017

Bahrain Duty Free Clocks Up Another Milestone With Latest Opening

Dedicated premium watches boutique a timely addition to new-look departures retail footprint with collection of leading high-end international brands

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Bahrain Duty Free has unveiled the latest addition to its upgraded departures retail outlet at Bahrain International Airport, with the opening of a dedicated premium watches boutique.

The 64 square-metre space, which enjoys a prominent location on the main passenger promenade, is home to an exciting selection of international brands specifically chosen to appeal to both a travelling audience and collectors of luxury timepieces alike.

Brands on display include Rolex, Omega. Breitling, Hublot, Tudor, Tag Heuer, Longines, and Raymond Weil.

The store officially opened on Monday, 16th January 2017 with a ribbon cutting ceremony led by Bahrain Duty Free General Manager, Bassam Al Wardi and Bahrain Airport Company CEO, Mohammed Al Binfalah.

“We continue to focus on enhancing the experience received by our customers in everything we do, and quality is a key pillar of Bahrain Duty Free operations. The addition of a dedicated personalised section for premium timepieces adds immensely to the value to the departures concourse offering,” said Bassam Al Wardi, General Manager, Bahrain Duty Free.

Commenting on the newest addition to the airport’s expanding duty free offering, Mr. Mohammed Al BinFalah, Chief Executive Officer of Bahrain Airport Company said: “Bahrain Airport Company is proud of its association over the years with Bahrain Duty Free and are extremely pleased with the addition of this exciting premium watch store area. It is testament to Bahrain Duty Free continued efforts in contribute substantially to the passenger experience at Bahrain International Airport.”

According to Deloitte’s Global Powers of Luxury Goods 2016 report, the travel retail channel currently accounts for around 40% of total global sector spend, and with positive growth forecasts for international air traffic through to 2020 and beyond, luxury goods are retaining purchase appeal within the duty free trading environment.

“Luxury very much has its place at Bahrain Duty Free, and by showcasing the most sought after watch brands, we are fulfilling our commitment to delivering simply better retail experience to our customers at Bahrain International Airport,” remarked Al Wardi. The design of the new space combines sleek contemporary lines with a warm, inviting colour palette, which is designed to enhance the individual brand presence of the various watchmakers as well as support the customer journey through the departures retail experience.

High-tech digital screens are also strategically located at the entrance to enhance brand visibility and enhance the retail environment.

This latest opening follows on the heels of the success of the Q3 2016 departures concourse launch of Aer Rianta International’s award winning Candy Cloud confectionery concept and the Q4 unveiling of the Middle East’s first Johnnie Walker House.

“This enhancement to the premium watch offering, along with new upscale listings within the beauty category, we believe we have added a further layer of exclusivity for our customers. This also applies to Candy Cloud as a first-of-its-kind store for the region and the innovative Johnnie Walker House experience,” said Al Wardi.

Al Wardi confirms that the 1,500-square-metre phased upgrading of the departures retail area is in its final stages with the existing confectionery section set to be completed in Q1 2017.

Added on 16 January, 2017

Winner of the AUDI R8 Car Draw No. 297

Bahrain Duty Free congratulates the winner of the AUDI R8 – Mr. Seena Masood Kazrooni “Bahraini” ticket number – 491

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Pictured above (left to right) Ms. Maria Ivy (Sales Assistant), Mr. Bassam Al Wardi (General Manager), Mr. Seena Masood Kazrooni (Winner), Mr. Sujat Ameen (Head of Business Support), Mr. Hisham Al Saloom (Deputy Head of Operations)

Added on 25 December, 2016

Winner of the AUDI R8 Car Draw No. 297

Bahrain Duty Free congratulates the winner of the AUDI R8 – Mr. Seena Masood Kazrooni “Bahraini” ticket number – 491

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Pictured above (left to right) Ms. Sara  (Sales Assistant), Mr. Shibu Abraham (Head of IT & Logistics), Mr. Shane O’Sullivan  (Head of Purchasing), Ms. Jean Silveira (HR Manager), Mr. Sujat Ameen (Head of Business Support), Mr. Dominic Carroll (Head of Finance), Ms. Nonalyn Barnett (Passenger - who drew the winning ticket), Mr. Helal Al Saadoon ( BAC - Terminal Operations Manager), Mr. George Moore (BAC – Acting Chief Commercial Officer), Mr. Domnick O’Reilly (Head of Operations), Mr. Saad (Sales Assistant).

Added on 13 December, 2016

Bahrain Duty Free announces BD 5.4 Million Profits for the nine months ended 2016

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Bahrain Duty Free Complex announced at a meeting of its board of directors on Monday, 7th November 2016 the financial results for the nine months ended September 30, 2016. Mr. Farouk Yousuf Al Moayyed - Chairman of the Board stated that the company had achieved a net profit of BD 5,370,744 compared with last year's earning’s, which amounted to BD 7,108,907, down by BD 1,738,163 or 24.5 %. The main reason for the decrease relates to a fall in investment income where a one-off profit was realized last year on the disposal of an investment asset. Basic earnings per share amounted to 41.52 fils compared 55.1 fils last year.

Total sales for the nine months ended 30th September 2016 were BD 21,524,861 compared to BD 20,960,522 last year an increase of BD 564,339 or 2.7%. Shareholders Equity is BD 47,524,324 compared to BD 48,845,961 last year. The reduction in equity is mainly due to a dividend payment during the year.

In the three months ended 30th September, Sales recorded were BD7,667,795 compared to BD7,374,210 last year, an increase of 4%. Net Profits were BD2,031,696 compared to BD 1,904,121 an increase of 6.7%

Mr.Abdulla Buhindi added, Profit from Investments recorded an amount of BD 1,404,332 compared to BD 2,777,878 last year, representing a decline of BD 1,373,546 or 49.4% due to profits earned last year on the sale of an investment property. The Investment portfolio increased by 13.8 % to BD 31,007,676.

 He went on to say that the company has started the planned upgrading of all shops in the departures area in line with company’s strategy to provide the customers with a better shopping experience at the Bahrain International Airport. «Candy Cloud» the store which is a home to top toys and confectionery brands was opened in September.

Added on 08 November, 2016

Candy Cloud Helps Brighten Bahrain Duty Free

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On September 6th, Bahrain Duty Free launched the award winning Candy Cloud concept at Bahrain International Airport. The store is approximately 60 square meters, and is located on the main passenger walkway of the departures retail area. The store is home to top toy and confectionery brands, and the range is aimed at the young, and young at heart alike. Speaking at the launch event, Bahrain Duty Free General Manager Bassam Alwardi outlined his excitement about the store and how the location has been totally transformed to offer an even better retail experience for our customers. “As this location is in a prime location within the terminal it was important for us to ensure that we created something fun and innovative, and we believe that with Candy Cloud we have succeeded”. He went on to outline how this store was a sign of the customer-centric approach adapted by the retailer; and how this opening is the first of many openings scheduled by the retailer for the remainder of 2016. Bahrain Duty Free is currently refurbishing its 1,500 sqm departures outlet.

Added on 06 September, 2016