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Trafco Group Q1 profit falls YOY

Trafco Group B.S.C. said its normalized net income for the first quarter came to 404,940 dinars, a decrease of 20.0% from 506,110 dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 4.3% from 5.0% in the year-earlier period.

Total revenue decreased on an annual basis to 9.9 million dinars from 10.1 million dinars, and total operating expenses decreased on an annual basis to 9.7 million dinars from 10.0 million dinars.

Reported net income decreased 15.5% on an annual basis to 642,930 dinars, or 8 fils per share, from 761,200 dinars, or 10 fils per share.

As of May 8, US$1 was equivalent to 380 Bahraini fils.