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GHG reports 13.4% rise in Q3 net profit

Bahrain-based Gulf Hotels Group (GHG) has posted a 5.6% increase in its net profits for the first nine months of the year to BD8.076m ($21m) from BD7.6m in the same period last year, Gulf Daily News has reported. For the third quarter, the company achieved 13.39% growth in net profit at BD2.176m, compared with BD1.919m achieved in the same period last year. Gross operating revenue fell slightly to BD23.089m from the BD23.405m recorded in 2012, as the business climate remained extremely challenging, said GHG.