Trafco reports Q1 results

Trafco Group (TRAFCO) yesterday announced a net profit related to Trafco shareholders during the first quarter of BD825k, compared to BD867k during the first quarter of last year, with a decrease of 5 per cent. S. Sridhar, Group CEO, attributed the decline to profitability decline in some of Trafco’s subsidiary companies and the hike in raw material prices and cost of fuel & energy that resulted in increased production cost leading to lesser gross margins.

Overall general & administration expenses which gone up also impacted the net profit although the parent company achieved an increase in its profit and earned profit from dividends on the share portfolio. Ebrahim Zainal, Trafco Group Chairman said the group’s total comprehensive income related to Trafco shareholders was BD1.23m compared to BD756k of last year, an increase of 63pc.

Operating profit (including minority shareholders) was BD434k compared to BD626k in the first quarter of last year, with a decrease of 31pc. Revenue of the group was BD9.9m during the first quarter, compared to BD10m in the first quarter of last year, with a decrease of 1pc. Earnings per shares were fils 11 compared to fils 11 in the first quarter of last year.