Trafco Group B.S.C. said its normalized net income for the first quarter came to 452,180 dinars, an increase from 442,430 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 rose to 4.6% from 4.3% in the year-earlier period.

Total revenue declined 5.8% on an annual basis to 9.8 million dinars from 10.4 million dinars, and total operating expenses decreased 5.1% year over year to 9.4 million dinars from 9.9 million dinars.

Reported net income grew 12.1% year over year to 775,100 dinars, or 10 fils per share, from 691,610 dinars, or 9 fils per share.

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