Trafco Group Q3, 9-mt profits rise

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

The continued increase in sales and a one-off gain from the acquisition of Bahrain Livestock Co, Trafco Group said, have helped its profits to rise 9.5% in the third quarter and 27.7% in the nine months.

Ebrahim Zainal, Chairman of Trafco Group, said this period is also the first time the operations of Bahrain Livestock Company for the entire period have been consolidated after the takeover of this company as a 100% subsidiary.

Azzam Moutragi, Group CEO of Trafco Group stated that the increase in the net profit for the nine months ended 30th September 2022 was due to increased revenue further one-off Other Income (Gain on Acquisition of Bahrain Livestock Co) BD 232k included.

Bahrain Livestock Co accounts are consolidated during this period, which contributed to an increase in Group assets.

Q3 results

Quarterly net profit attributable to the shareholders of Trafco was BD 301k up 9.5% from BD 275k in the year-earlier quarter.

Earnings per share were breakeven at 4 fils.

The total comprehensive income attributable to the shareholders of Trafco decreased by 3.2% to BD 361k from BD 373k in the prior-year quarter.

Nine-month results

Net profit attributable to the shareholders of Trafco jumped 27.7% to BD 1.46m from BD 1.14m in the same period of the previous year. Earnings per share were 20 fils compared with 15 fils in the same period of the previous year.

The total comprehensive income attributable to the shareholders of Trafco was BD 2.34m compared to BD 2.00m in the same period of the previous year, with an increase of 16.8%.

The total shareholders’ equity (excluding minority interests) during the nine months of 2022 was BD 28.82 m compared with BD 27.48m at the end of last year, with an increase of 5.5%.

The total assets during the nine months of 2022 were BD 53.25m compared to BD 47.63 m at the end of last year, with an increase of 11.8%.