Trafco reports 11pc increase in Q1 profit
Manama : `Trafco Group yesterday announced an 11 per cent increase in its first quarter net profit to BD.867,000 against BD.776,000 in the year’s earlier quarter, helped by strong performance of its subsidiaries Awal Dairy Company, Bahrain Water Bottling and Trafco Logistics. The group’s total quarterly sales increased by 3pc from BD.9.7m to BD.10m.
Commenting on the results, Group CEO S. Sridhar said that effective 1st Jan’2018 the new accounting standards IFRS 9 and 15 had a slight impact on the net profit and retained earnings during this quarter and that of last year as well.
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