Bahrain Car Parks reports $1.7m net profit in 2020
MANAMA, February 25, 2021
Bahrain Car Parks Company, a specialist in parking management and property leasing, has announced a net profit of BD658,000 ($1.7 million) for the full year 2020, down 26 per cent decline from BD888,000 ($2.34 million) compared to the year ended December 31, 2019.
The decline was predominantly due to the Covid-19 pandemic, which created a decline in demand for the company’s main services stemming from the government’s preventative measures to ensure effective social distancing to limit the spread of the novel coronavirus.
Total comprehensive income attributable to the shareholders for the year decreased by 4% to BD605,000 compared with BD628,000 in 2019. Operating profit for 2020 too fell to BD529,000, compared to BD916,000 for 2019.