Bahrain - Trafco Group has reported a profit attributable to the shareholders of BD603,000 for the second quarter of 2024 as against BD501,000 for the second quarter of previous year, with an increase of 20 per cent.

The basic and diluted earnings per share for the second quarter of 2024 were 8 fils compared to 7 fils during the second quarter of previous year.

The total comprehensive income related to Trafco Group shareholders for the second quarter of 2024 is BD521,000 compared to BD534,000 of the second quarter of previous year with a decrease of 2pc.

Ebrahim Zainal, chairman of Trafco Group, stated that the improved results for the second quarter of 2024 are mainly due to improved gross profit margin of core business and better performance of subsidiary companies.

For the half year of 2024, the group achieved profit attributable to the shareholders of BD1.56 million compared with BD1.38m in the same period of previous year, with an increase of 13pc.

The basic and diluted earnings per share for the half year of 2024 were 21 fils compared with 19 fils in the same period of previous year.

The total comprehensive income related to Trafco Group shareholders for the half year of 2024 is BD1.58m compared to BD1.68m of the same period of previous year, with a decrease 6pc.

The total shareholders’ equity (excluding minority interests) during the half year of 2024 was BD30.55m compared with BD30.24m as end of last year, with an increase of 1pc.

The total assets during the half year of 2024 was BD58.33m compared to BD56.41m as end of last year, with an increase 3pc.

Trafco Group chief executive Azzam Moutragi stated that the increase in the net profit for the first half year of 2024 was driven by the availability of sufficient inventory that led to achieving higher sales; the group managed to enhance its inventory in spite the international supply chain problems.

He added that the total comprehensive income decrease was due to fair valuation of quoted and unquoted investments at the closing date.

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