Trafco Group posts quarterly, FY22 profit, 15% cash dividend

TDT | Manama                      

The Daily Tribune – www.newsofbahrain.com   

Trafco Group yesterday reported profits, which the company said was impacted by the international increase in price of commodities.

The international increase in price of commodities for different reasons did have a negative impact on the gross margin in particular within the food industries, Ebrahim Zainal, Chairman of Trafco Group, said, adding, “TRAFCO as a group, however, was able to maintain for the full year its total revenue and achieve better profit to the shareholders.”

The board also recommended a cash dividend of 15 % on share par value (equivalent to 15 fils per share) amounting to a total dividend of BD 1,112,844 to the shareholders.

Q4 results

Trafco Group reported a net profit attributable to the shareholders of Trafco of BD 80k for the fourth quarter of 2022 as against BD 161k achieved during the fourth quarter of 2021, with a decrease of 50 %.

The diluted earnings per share were 1 fils compared to 3 fils during the same period of the previous year.

The total comprehensive income attributable to the shareholders of Trafco for the fourth quarter of 2022 was negative by BD 466k compared to negative by BD 213k of the previous year with a decrease of 119% due to decrease in value of unquoted investments.

Full year results

Full year net profit attributable to the shareholders of Trafco was BD 1.54m compared with BD 1.30m in the previous year, with an increase of 18 %.

Earnings per share were 21 fils compared with 18 fils in the previous year.

The total comprehensive income attributable to the shareholders of Trafco was BD 1.87m compared to BD 1.79m of previous year, with an increase of 4 %.

Azzam Moutragi, Group Chief Executive Officer stated the acquisition of Bahrain Livestock company contributed in improving the bottom line for the group and we are confident that it would enhance future income and profit to the shareholders.