Trafco Group Q1 profit rises 9%

TDT | Manama     

The Daily Tribune – www.newsofbahrain.com

Trafco Group has reported a net profit attributable to the shareholders of Trafco of BD 958k for the first quarter of 2024 as against BD 880k compared to the first quarter of 2023, with an increase of 9%.

The diluted earnings per share for the first quarter of 2024 were 13 fils compared to 12 fils during the same period of the previous year.

The total comprehensive income attributable to the shareholders of Trafco Group was BD 1.06m compared to BD 1.15m during the same period of previous year, with a decrease of 8%.t due to the Ebrahim Zainal, Chairman of Trafco Group, stated that the first quarter results of the parent company and all subsidiaries were better, and the overall gross profit margin improved, noting that first quarter includes dividends income from the group’s investment portfolio.

Azzam Moutragi, Group CEO, stated that first quarter operating profit increase was mainly due to the products availability with favorable prices, he also stated that the decrease in the comprehensive income attributable to the group’s shareholders during the first quarter of this year is due to the fair value changes of unquoted investments compared to the same period of the previous year.

The total shareholders’ equity (excluding minority interests) as of 31st March 2024 was BD 30.03m compared with BD 30.24m as end of last year with a nominal decrease of 0.7 %.

The total assets as of 31st March 2024 reached BD 58.64m compared to BD 56.41m at the end of last year with an increase of 4%.