Profits fall 4% at Batelco

24 Apr 2009

Bahrain Telecommunications Company (Batelco) has reported a 4% year-on-year drop in first quarter 2009 net profit attributable to shareholders, to USD70 million, down from USD73 million in 1Q 2008, reports Trade Arabia. The fall came despite a 7% year-on-year rise in consolidated quarterly revenues to USD222 million, including a USD18 million one-off gain from a real estate transaction. The company attributed the slide in profits to increased competition across all markets, and added that revenues in its home market rose 14% year-on-year.

Bahrain, Bahrain Telecommunications Company (Batelco)