Trafco Group B.S.C. said its normalized net income for the fourth quarter came to 168,990 dinars, a decrease of 38.5% from 274,950 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 dropped to 1.6% from 2.8% in the year-earlier period.
Total revenue grew on an annual basis to 10.3 million dinars from 9.9 million dinars, and total operating expenses rose on an annual basis to 9.9 million dinars from 9.7 million dinars.
Reported net income decreased 24.6% from the prior-year period to 289,850 dinars, or 4 fils per share, from 384,610 dinars, or 5 fils per share.
For the year, the company's normalized net income totaled 13 fils per share, a decrease of 11.0% from 15 fils per share in the prior year.
Normalized net income was 1.1 million dinars, a fall of 11.0% from 1.2 million dinars in the prior year.
Full-year total revenue increased on an annual basis to 41.1 million dinars from 40.3 million dinars, and total operating expenses came to 39.4 million dinars, compared with 39.3 million dinars in the year-earlier period.
The company said reported net income totaled 1.7 million dinars, or 22 fils per share, in the full year, compared with 1.7 million dinars, or 22 fils per share, the prior year.
As of Feb. 19, US$1 was equivalent to 380 Bahraini fils.