Trafco profits up 66pc
Manama, August 27, 2007
Listed Bahraini firm General Trading and Food Processing Company (Trafco) has seen a 66 per cent rise in half-year profits to BD1.2 million.
The figures mark an improvement on the half-year total of BD0.7 million for 2006, and represent a recovery from a six per cent fall in sales revenue last year, it was announced yesterday.
The company reported total sales of BD23.3 million in 2006, down 6.1pc from the BD24.9 million reported in 2005.
Trafco's net profit for 2006 was also down on the previous year - falling 34.5pc from BD1.9 million to BD1.2 million.
The company's assets also fell as of year-end 2006, down 2.2pc to BD27.6 million from BD28.2 million.
However there are strong signs of recovery and the company reported that net profit for the second quarter was up 112 per cent on the same period last year.
Trafco's total assets have reported a year-to-date growth of 11.1 per cent as of the end of June, reaching BD30.6 million compared to 27.6 million in the same period last year. - TradeArabia News Service
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