Seef Properties announced consolidated financial results for period ending 31st of March 2013 where the company recorded an operating profit of BD 2.85 million, a growth of 3.78% compared to BD 2.75 for the same period in 2012.
Mr. Essa Najibi, Chairman of Seef Properties commented, “The increase in our Operating Profit demonstrates a good start for 2013. Our positive results are attributed to a strong performance in our Hospitality and Leisure businesses, something we intend to further develop in the coming year.”
General Manager of Seef Properties, Robert Addison commented, “We are pleased to report positive results for the first quarter of 2013. Our performance again reflects positively on our strategy for growth as we continue to maximise opportunities within our portfolio”
Net profit was BHD 1.48 million in Q1 of 2013 compared to BHD 1.66 million in Q1 of 2012 and was attributable to an increase in certain non – operating expenses which included early retirement packages for some long serving employees.