Bahrain Cinema Company announces half yearly profits for the term ending June 2007

The net profits rose from BD 2,088,530 for the same period in 2006 to BD 3,349,000 in June 2007 with a remarkable increase in the earning per share rising to 90 fils; the highest the company has ever recorded.

These results were revealed in an official meeting with the Board of Directors that was headed by CINECO Managing Director, Dr Esam Abdullah Fakhro. The meeting was also addressed by CINECO General Manager, Mr. Ahmed Rashed, who highlighted the company's achievement in obtaining the highest increase in profits in comparison to its paid-up capital; an unprecedented increase even in comparison to other public shareholding companies operational in the Kingdom of Bahrain. Mr. Rashed also spoke about the technical and operational aspects of the results.

Results revealed a 35% rise in operating profits and an outstanding increase in profits generated from investment rising to 45%.

Due to their outstanding performance, Bahrain Cinema Company has decided to expand its operations in the Kingdom of Bahrain and abroad. The company's operations include management of a number of cinemas and restaurant within the Kingdom and the GCC.

CINECO also announced the opening of their 36 million Qatar Riyals new Cinema Megaplex at Villagio in Qatar to take place in the first quarter of 2008. The Cinema Megaplex will boast 13 screens including an IMAX theatre; the first ever in the state of Qatar, all built to international standards with cutting edge entertainment technology.

What makes the IMAX so unique is the extraordinary size of its screen which reaches the height of a five storey building. For maximum entertainment and the ultimate viewing experience, IMAX moviegoers shall be provided with special eyeglasses at the venue.

With a capacity to accommodate nearly 2,400 movie goers, the Cineplex also features special VIP balconies that will be facilitated with numerous amenities and will also include special services where guests will be served refreshments and will be waited upon.

The Cinema Megaplex at Villagio is the second biggest project that the company has undertaken in Qatar after witnessing the success of the Cineplex in City Center, Doha.

Expansion plans in the Kingdom of Bahrain includes the opening a 6 million BD Megaplex in Bahrain's City Center in June 2008. The 20 screens Megaplex project can easily be described as 'the biggest cinema multiplex in the Middle East' occupying an area of 8000 square meters, with a seating capacity of approximately 4200 seats. The Megaplex will also include a private screen for VIP's featuring lavish seating arrangements custom made for VIP screening and will highlight special services where guests will be waited upon.

CINECO's cinema in City Center will feature the most luxurious amenities and the biggest lobbies that will be easily recognized as one of the 'biggest Cinema lobbies in the world'. The Megaplex will also offer movie goers some of the finest restaurants, coffee shops, gaming areas and a lot more surprises.

Bahrain Cinema Company owns and operates a total of 24 screens in Bahrain with 4 theaters in the Saar Cineplex, 16 in Seef Mall, 1 at Awal, 1 at Alhamra and 2 in the Al Jazeera cinema in Muharraq, and Qatar has 14 screens so far. After the two grand openings in Bahrain and Qatar CINECO will have a total of 71 screens under their management.

The new addition to CINECOs operations, the restaurant 'Takatak', commenced operations earlier this year. The restaurant, situated within the Awal cinema premises specializes in ethnic Indian cuisine. This marks CINECO's second successful restaurant venture after Le Rendezvous. CINECO strives to create new project for their future.