Bahrain Parking Company (Amakin) yesterday announced its financial results for the third quarter and nine months to 30 September 2023.
Regarding the company’s financial results for the three months ended September 30, 2023, Amakin achieved a 54% increase in net profit to BD 230,000 compared to BD 149,000 reported in the same period in 2022. did.
Basic profit and diluted earnings per share were 2.11 fils, compared to 1.36 fils in the same period in 2022.
The company reported total comprehensive income of BD167,000, an increase of 109% compared to BD80,000 in the same period of 2022, and operating profit of BD522,000 in the same period of 2022, an increase of 28%. It was BD670,000. .
Amakin’s financial results for the nine months ended September 30, 2023 showed a net profit of BD745,000, compared to a net profit of BD449,000 in the same period last year, an increase of 66%.
Basic profit and diluted earnings per share were 6.82 fils, compared to 4.11 fils in the same period in 2022.
The company reported total comprehensive income of 663,000 BD, an increase of 102% compared to 329,000 BD in the same period of 2022, and operating income of 20.22 million BD, compared to 1.6 million BD in the same period of 2022. reported a 26% increase. 2022.
Total capital amounted to BD 19.92 million, compared to BD 19.92 million for the year ended December 31, 2022.
The company’s assets were BD 21.21 million, an increase of 3% compared to BD 20.59 million for the year ended December 31, 2022.
Amin Alaraed, Chairman of Amakin, commented: “We are proud to announce Amakin’s financial results for the third quarter of 2023. This achievement is a testament to our dedication to providing innovative and effective parking solutions to our customers.” I We continually strive to respond to the changing demands of our valued customers and society and provide efficient and accessible services. ”
Mr. Alarid further stated: “Amakin’s financial success reflects the Board’s commitment to forming strategic partnerships that strengthen our position in the market. Over the years, these partnerships have delivered measurable success. , we also aim to foster strong relationships with the public sector, with a focus on improving operational efficiency of parking facilities and upholding our core values of cooperation for a better future. Amakin’s dedicated team , working diligently to implement the company’s strategy, diversify revenue sources and leverage available resources to achieve superior results that benefit our society and our beloved country. .”
Tariq Ali Al-Jawder, CEO of Amakin, said: “Amakin maintained strong momentum, sustained growth through the third quarter, and delivered a series of strong results in the first nine months of 2023. I did,” he said.
Our financial results for the third quarter of 2023 provide a seamless experience for our customers and those who benefit from the success of the services provided by ‘Amakin’ alongside our services in an active and dynamic environment. demonstrating our ability to deliver. The “Social Responsibility” strategy aims to support various important development sectors in the Kingdom.
Over the next quarter, we will work on completing and delivering parking projects, starting with Amakin Souq, Salmaniyah Medical Complex, Hala Plaza Complex and Gulf Hotel. Additionally, as part of ongoing projects, Amakin currently manages over 7,989 parking spaces.
We are also actively working on several projects that we hope to accomplish this year. ”
Aljoudah further added: “We are extremely proud of the efforts of our dedicated teams that have contributed to the significant economic benefits of our company. We remain committed to our mission of providing parking solutions and related services.”
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