Trafco Group reports steady performance

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

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Trafco Group has reported a net profit attributable to the shareholders of Trafco BD 263k for the third quarter of 2024 as against BD 269k compared to the third quarter of the previous year, with a minor decrease of 2%.

The basic and diluted earnings per share for the third quarter of 2024 were 4 fils compared to 4 fils during the third quarter of the previous year.

The total comprehensive income attributable to the shareholders of Trafco for the third quarter of 2024 was BD 262k compared to negative BD 98k of the third quarter of the previous year with an increase of 367%.

Ebrahim Zainal, Chairman of Trafco Group stated that the 3rd quarter net profit remained stagnant almost same as last year, while the comprehensive income was boosted due to better valuation compared to last year.

For the nine months ended 30th September 2024, the group achieved a net profit attributable to the shareholders of Trafco of BD 1.82m compared with BD 1.65m in the same period of the previous year, with an increase of 10.6%.

The basic and diluted earnings per share for the nine-month period of 2024 were 25 fils compared with 22 fils in the same period of the previous year.

The total comprehensive income attributable to the shareholders of Trafco for the nine months period of 2024 of BD 1.84m compared to BD 1.58m of the same period of the previous year, with an increase of 16.5%.

The total shareholders’ equity (excluding minority interests) as of 30 September 2024 was BD 30.82m compared to BD 30.24m at the end of last year, with an increase of 2%.

The total assets as of 30 September 2024 was BD 58.66m compared to BD 56.41m at the end of last year, with an increase of 4%.

Azzam Moutragi, CEO of Trafco Group stated that the increase in net profit of 9 months up to September 2024 was mainly due to achieving higher sales volume in overall group companies and managed to control the cost plus a higher gross profit.

The subsidiary companies in total also performed better. He further added that the total comprehensive income increase was mainly due to fair valuation of unquoted investment.