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Trafco Group Q2 profit falls YOY

Trafco Group B.S.C. said its normalized net income for the second quarter was 157,480 dinars, a fall of 43.6% from 279,350 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 1.5% from 2.5% in the year-earlier period.

Total revenue decreased on an annual basis to 10.6 million dinars from 11.0 million dinars, and total operating expenses fell year over year to 9.9 million dinars from 10.4 million dinars.

Reported net income declined 40.5% year over year to 293,160 dinars, or 4 fils per share, from 492,930 dinars, or 6 fils per share.

As of Aug. 5, US$1 was equivalent to 380 Bahraini fils.