Trafco Group B.S.C. said its normalized net income for the fourth quarter was 163,170 dinars, a decline of 10.8% from 182,940 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 declined to 1.6% from 1.8% in the year-earlier period.
Total revenue decreased year over year to 10.0 million dinars from 10.1 million dinars, and total operating expenses fell on an annual basis to 9.5 million dinars from 9.8 million dinars.
Reported net income decreased 23.7% on an annual basis to 313,670 dinars, or 4 fils per share, from 411,290 dinars, or 5 fils per share.
For the year, the company's normalized net income totaled 11 fils per share, a fall of 9.0% from 12 fils per share in the prior year.
Normalized net income was 868,840 dinars, a decline of 9.1% from 955,490 dinars in the prior year.
Full-year total revenue fell year over year to 40.0 million dinars from 41.2 million dinars, and total operating expenses declined year over year to 38.1 million dinars from 39.2 million dinars.
The company said reported net income declined year over year to 1.7 million dinars, or 22 fils per share, in the full year, from 1.7 million dinars, or 23 fils per share.
As of Feb. 20, US$1 was equivalent to 380 Bahraini fils.