Amakin reports net profit of BD 776,000

Manama, Feb. 28 (BNA): Bahrain Car Parks Company (Amakin) B.S.C. announced its financial results for the fourth quarter of 2021 and for the year ended December 31, 2021. The company achieved a net profit of BD 234,000 for the three months ended December 31, 2021, compared to BD 105,000 reported for the same period in 2020, an increase of 123%. Basic and diluted earnings per share were at 2 fils compared to 1 fils for the same period last year. Total comprehensive income for the fourth quarter of the year was 294,000, 59% higher compared to BD 185,000 reported for the same period last year. The company reported an operating profit of BD 215,000 compared to BD 98,000 for the same period in 2020, an increase of 119%. As for the company's financial results for the year ended December 31, 2021, net profit reached BD 776,000 compared to BD 658,000 reported for last year, an increase of 18%. Basic and diluted earnings per share were at 7 fils, compared to 6 fils for the same period in 2020. The company reported a total comprehensive income of BD 678,000, 12% higher compared to BD 605,000 reported in the previous year, and a 34% increase in operating profit, BD 708,000 compared to BD 529,000 for the same period in 2020. Total equity attributable to the shareholders of the company amounted to BD 19.78 million for the year ended December 31, 2021, compared to BD 19.65 million for the year ended December 31, 2020, which represents an increase of 1%. The company's assets were at BD 20.4 million for the year ended December 31, 2021, almost in line with BD 20.2 million in the previous year, which represents an increase of 1%. Amakin’s board of directors recommended distributing annual dividends to shareholders representing 6% of the company’s paid-up capital, equivalent to 6 fils per share, subject to the AGM approval. Established in October 1981, Bahrain Car Park Company (Amakin) B.S.C., is a public company that has been listed on the Bahrain Bourse since March 2006. The Company operates in the commercial and professional services sector and specializes in parking management and property leasing.