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PRESS RELEASE: Bahrain Car Parks Company announces its financial results for the first quarter of 2021

May 10 2021

Bahrain Car Parks Company (trading symbol: CPARK) today announced its financial results for the three months ended 31 March 2021.

As for the company’s financial results for the three months ended 31 March 2021, net profit reached BD 199K compared to BD 137K reported for the same period last year, an increase of 44%. Basic and diluted earnings per share were at 1.82 fils, compared to 1.26 fils for the same period in 2020. The company reported a total comprehensive income of BD 144K, 716% higher compared to BD 18K reported in the previous year, and a decrease of 7% decrease in operating income, BD 437K compared to BD 468K for the same period in 2020.

Total equity attributable to the shareholders of the company amounted to BD 19.2 million compared to BD 19.7 million for the year ended 31 December 2020, which represents a decrease of 2%. The company’s assets were at BD 20.4 million, 1% higher compared to BD 20.2 million in the previous year.

Commenting on the financial results, Chairman of Bahrain Car Parks Company, Mr. Amin Alarrayed, said, “We are delighted with the resilience of our financial results for the first quarter of the 2021. The company continues to invest in world class technologies and solutions to upgrade the customer journey for both public and private clients. We will be making significant announcements soon, specifically with regard to technological improvements at our facilities.”

Chief Executive Officer of Bahrain Car Parks Company, Mr. Tariq Ali Aljowder, said, “Despite the continuing effects of the pandemic on our business, we achieved good results up by 44% from the same period last year. We are confident of delivering on our strategy successfully with the aim of transforming our business ecosystem into parking services and beyond.”

Established in October 1981, Bahrain Car Park Company 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.

The full set of the financial statements and the press release are available on the website of Bahrain Bourse and the company’s new website www.carparks.bh.

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