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GCC honours for cinema firm.

MANAMA: Bahrain Cinema Company, also known as Cineco, has been named the top ranking company in the leisure and tourism sector in the GCC by Global Finance magazine.

The company said Global Finance positioned it as the ninth overall "Best Performing Company in the GCC" and 13th in the Middle East region among non-financial companies that are publicly listed in the stock exchange in their respective countries.

To determine performance, each company's return on assets, profit margin, solvency ratio and price to earnings ratio are looked at and rankings are assigned accordingly.

In order to be included for consideration, firms must rank in the top 250 companies in the region based on market capitalisation. According to a report in last month's edition of Global Finance, Cineco reported returns on assets of 15.14 per cent, profit margins of 32.64pc, solvency ratio of 90.08pc and price/earnings ratio of 16.17pc for a total score of 195.

Global Finance also said Cineco was first among companies in the leisure and tourism sector in the region due to its market value of $269.998 million.

The figures are as per financial reporting year of 2013.

Cineco chief executive Ahmed Rashed said the rankings will "go a long way in enhancing our already established reputation among our shareholders".

The company owns and operates a total of 44 cinema screens in Bahrain and 27 in Qatar.

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Publication:Gulf Daily News (Manama, Bahrain)
Date:May 5, 2015
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