Cineco owns and operates a total of 49 cinema screens in the Kingdom of Bahrain.
Bahrain Cinema Company, a market leader in the entertainment industry in Bahrain, also known as Cineco, has announced a record net profit of $98 million (BD37.33 million) for the nine months period ended September 30.
The remarkable increase in net profit is reportedly due to the sale of 50% of the assets of City Centre Cinema location and also the resultant fair value increase due to revaluation of remaining 50% of the assets of the said Cinema.
Commenting on the growth in net profits, Dr Esam Abdulla Fakhro, Chairman of Bahrain Cinema Company said:At Bahrain Cinema Company, we pride ourselves on the exponential level of growth we have maintained thus far through the constant provision of the highest standards of quality in entertainment by consistently innovating new and improved customer-oriented services and offers, and by incorporating the very latest screening technology in all of our cinemas. Just as our latest financial results illustrate our sustenance of this trend, we hope to continue in the same degree and finish the year strongly, thus consolidating our status as leaders in the entertainment industry in the Kingdom of Bahrain.
The CEO of Bahrain Cinema Company, Ahmed Rashed said: Through our wisely and astutely placed investments in lucrative projects with high potential for continued success and by partnering with established names that have illustrious pasts and driven ambitions, we constantly work to secure the future of our company and lead it through persistent periods of prosperity.
Cineco owns and operates a total of 49 cinema screens in the Kingdom of Bahrain.
