Batelco 9M net profit up 1.5%

29 Oct 2009

Bahrain Telecom (Batelco) has reported a consolidated net profit for the first nine months of 2009 of BHD79.5 million (USD210.9 million), up by 1.5% year-on-year, on turnover that climbed 4.4% to BHD256.2 million. January-September operating profit grew by 15% to BHD83.4 million, whilst the EBITDA margin for the period was 44.6%. Approximately 30% of group revenues were from overseas operations, whilst 19% of operating profit was generated outside Bahrain. The group’s 96% owned unit in Jordan, Umniah, continued to exceed targets and increased its mobile customer base to approximately 1.6 million by end-September 2009. Yemen-based Sabafon, in which Batelco holds a 26.9% equity stake, delivered ‘solid’ growth in earnings and its mobile subscriber base rose to 2.5 million customers by the end of the third quarter. In Bahrain, the firm saw gross revenues from its mobile, fixed and broadband services increase by 7.5% whilst delivering a 15% rise in operating profit. Though the company statement did not provide figures for the third quarter, calculations by news agency Reuters put Batelco’s group quarterly net profit at BHD25.3 million, down by 8% year-on-year.