Travco Group (trading symbol: Travco) announced a net profit of 161 thousand dinars related to Travco shareholders. Bahraini dinars in the fourth quarter of 2021 compared to 71 thousand Bahraini dinars achieved during the fourth quarter of year 2020. With a height of 127%.
Earnings per share for the fourth quarter of 2021 amounted to 3 fils, compared to 1 fils during the same period from the previous year.
The total comprehensive income for the fourth quarter of 2021 amounted to -213 thousand Bahraini dinars, compared to 803 thousand dinars Bahraini in the previous year related to the shareholders of Travco Group, a decrease of 126%.
Ibrahim Zainal, Chairman of Travco Group, stated that the last quarter of 2021 showed Good results with remarkable profits despite the occurrence of interruptions in logistics and supply of goods and the high cost Raw materials, overall revenue improvement with better overall profit management. The reason for the decrease in total comprehensive income is mainly due to the decrease in the valuation of the unpriced investment On changes in global valuation multiples, although the relevant investment performance has been Better
For the year ending December 31, 2021. The group achieved a net profit attributable to Travco shareholders of 1.30 million dinars, compared to 1.45 BD million in the previous year, a decrease of 10%.
Earnings per share for the year amounted to 18 fils compared to 19 fils in the previous year.
Comprehensive income for the year attributable to shareholders of Travco amounted to BD 1.79 million, compared to 1. 84 million BD in the previous year, a decrease of 2.5%.
Total shareholders’ equity as at December 31, 2021 amounted to BD 27.48 million, compared to BD 26.87 million BD in the previous year, an increase of 2.3%Mainly backed by net profit.
Total assets as at December 31, 2021 amounted to BD 47.6 million, compared to BD 46.1 million Bahraini dinars in the previous year, an increase of 3.2%.
The Board of Directors recommended a cash dividend of 14%of capital (equivalent to 14 fils per share) equal to 1,038 total dividends. BD 766 for shareholders whose names are registered in the company’s records on the due day, as per shareholder approval During the next annual general assembly meeting and regulatory authorities.
Azzam Matarji, Group CEO, stated that the group achieved a noticeable net profit despite the decrease in profits Total revenue as there were restrictions and limits in the food service and hotel sectors due to the ongoing COVID-19 pandemic in different variants. Furthermore, we have been able to generate a net profit by applying cost reduction and control over all domains in the group as well as all of our subsidiaries.