Gulf Hotels Group posts 29.7% rise in net profit
For the second quarter of 2025, the company has achieved net profit of BD2.8 million compared to BD2.1m in the second quarter of the previous year, with an increase of BD0.7m or 29.7pc.
Earnings per share are 12 fils compared to 9 fils in the second quarter of last year.
Total comprehensive income is BD2.6m compared to BD1.8m for the second quarter of the previous year, with an increase of BD0.7m or 39pc.
Revenue for the second quarter was BD10.1m, compared to BD9.4m for the same period last year, with an increase of BD0.7m or 7pc.
For the first six months of 2025, the company has achieved net profit of BD5.2m compared to BD4.8m in the six months of the previous year, with an increase of BD0.42m or 9pc.
The earnings per share are 23 fils compared to 21 fils in the six months of last year.
Total comprehensive income is BD5.1m compared to BD4.2m for the six months of the previous year, with an increase of BD0.9m or 21pc.
Revenue is BD18.7m compared to BD18.4m for the same period last year, with an increase of BD0.3m or 2pc.
The total equity (excluding minority interests) for the period of six months ended June 30, 2025 was BD105m compared to BD106m for the year ended December 31, 2024, with a decrease of BD0.7m or 0.6pc.
The total assets for the YTD reached BD111m compared to BD113m for 2024, with a decrease of BD2.1m or 2pc.
Gulf Hotels Group chairman Fawzi Kanoo said: 'Gulf Hotels Group delivered a strong performance in the first half of 2025, marked by solid growth in both revenue and net profit. This positive momentum reflects our firm commitment and continued efforts to drive sustainable growth across all our portfolio.'
Mr Kanoo added: 'Major events, most notably the Formula 1 Grand Prix, alongside the holiday season, played a pivotal role in stimulating travel activity and boosting hotel occupancy across the kingdom. Looking ahead, we remain optimistic about maintaining our positive momentum into the second half of 2025, supported by ongoing government initiatives aimed at developing the tourism sector. We are committed to enhancing operational efficiency across our portfolio while pursuing strategic opportunities within Bahrain and across the GCC region to further expand our footprint and deliver long-term, sustainable value to our shareholders.'
Gulf Hotels Group chief executive Ahmed Janahi added: 'The group continued to build on its strong momentum throughout the second quarter and first half of 2025, delivering solid year-on-year profit growth of 30pc for the quarter and 9pc for the six-month period, reflecting effective portfolio management and enhanced operational efficiencies.'
Mr Janahi further noted, 'The official integration of Gulf Hotel Bahrain into the global Marriott Bonvoy loyalty programme in April 2025 marked a significant milestone in our transformation journey. This strategic move has elevated the hotel's presence on the global hospitality map and unlocked new opportunities to attract a broader segment of international guests and Bonvoy members, positively impacting occupancy rates and operating revenues in the coming years.'
He also revealed that the group is set to launch a new catering company under its umbrella, dedicated to serving diverse sectors including educational institutions, healthcare facilities, corporate clients, and private events.
In addition, the company will operate a cloud kitchen model to expand its reach into delivery-focused food services.
'This initiative represents a valuable addition to our business portfolio, strengthening income diversification and supporting our broader institutional expansion plans.'
Mr Janahi concluded by noting that the Group is currently assessing several promising opportunities to grow its portfolio through the management of hotels and serviced apartments, alongside plans to expand its renowned restaurant brands across Bahrain and Saudi Arabia.
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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