NHC posts record profit

The Diplomat Radisson SAS ... profitable year.

Bahrain's National Hotels Company (NHC) posted a BD1,383,214 ($3.82 million) record net profit for last year, it was announced.

The company, which owns the Diplomat Radisson SAS Hotel, also announced a seven per cent dividend for shareholders and an extra month's salary for employees as a reward for their outstanding performance.

This is the first time in five years that the company has distributed a dividend. The net profit for 2000 was BD745,878.

Board chairman Ahmed Abdul Rahman Al Zayani said that last year was exceptional.

"Last year was a very difficult year for tourism, particularly after the September 11 terrorist attacks on the US when people all over the world stopped travelling," he said.

"Despite this, we were able to score a success and post record results. For the first time ever the hotel's sales surpassed BD5 million and it posted a profit of BD1,383,214."

Al Zayani said that the performance of the company's employees deserved praise.

"We are happy to announce that the Board has decided to present the employees with a monetary reward in recognition of the efforts that have resulted in these great results and to encourage them to continue the hard work," he added.