Trafco reports Q4 profit, 18pc dividend

Trafco Group (TRAFCO) yesterday said it has achieved a net profit related to Trafco shareholders during the fourth quarter of BD211k, compared to BD320k during the fourth quarter of last year, with a decrease of 34 per cent. The decrease in the net profit was attributed to a decrease in the profitability of some of the sister companies as stated by Ebrahim Zainal, chairman of Trafco Group.

The board of directors recommended a dividend of 18pc of the share capital, equivalent to 18 fils per share to the shareholders registered at the date of the AGM. Earnings per shares during the fourth quarter were 3 fils compared to 4 fils in the fourth quarter of last year. Total comprehensive income related to Trafco shareholders during the quarter was BD272k compared to (BD166k) in the same quarter of last year, with an increase of 264pc. Operating profit (including minority shares) in the quarter was BD438k, compared to BD493k in the year-ago quarter, with a decrease of 11pc.

Revenues during the quarter were BD9.81m, compared to BD9.96m in the fourth quarter of last year, with a decrease of 2pc. For the full year, the group achieved a net profit related to Trafco shareholders of BD1.84m, compared to BD1.67m in last year, with an increase of 10pc. Earnings per shares were 24 fils compared to 22 fils in last year. The increase was attributed to overall improvement in the operations resulting in increased gross margin, as stated by S. Sridhar, group chief executive officer.

Total comprehensive income related to Trafco shareholders was BD2.06m compared to BD2.42m of last year, with a decrease of 15pc. Operating profit (including minority shares) was BD2.37m, compared to BD1.98m of last year, with an increase of 19pc. Revenue for the year was BD39.52m, compared to BD39.87m in last year, with a decrease of 1pc.