Trafco Group B.S.C. said its fourth-quarter normalized net income came to 182,940 dinars, an increase of 8.3% from 168,990 dinars in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to 1.8% from 1.6% in the year-earlier period.
Total revenue fell year over year to 10.1 million dinars from 10.3 million dinars, and total operating expenses decreased from the prior-year period to 9.8 million dinars from 9.9 million dinars.
Reported net income increased 41.9% on an annual basis to 411,290 dinars, or 5 fils per share, from 289,850 dinars, or 4 fils per share.
For the year, the company's normalized net income totaled 12 fils per share, a decline of 7.9% from 13 fils per share in the prior year.
Normalized net income was 955,490 dinars, a decrease of 9.3% from 1.1 million dinars in the prior year.
Full-year total revenue amounted to 41.2 million dinars, compared with 41.1 million dinars in the prior year, and total operating expenses totaled 39.2 million dinars, compared with 39.4 million dinars in the prior-year period.
The company said reported net income grew on an annual basis to 1.7 million dinars, or 23 fils per share, in the full year, from 1.7 million dinars, or 22 fils per share.
As of Feb. 20, US$1 was equivalent to 380 Bahraini fils.