Batelco’s annual sales up 8%, profit climbs 1%

29 Jan 2010

Bahraini incumbent Batelco has reported net revenue for FY2009 of BHD268.7 million (USD716.2 million), up 8% from BHD249.6 million in 2008. Annual net profit attributable to Batelco shareholders climbed by 1% year-on-year to BHD105 million in 2009, whilst the group’s overseas operations accounted for 31% of gross turnover in the year. However, fourth-quarter net profit fell 1.5% year-on-year to BHD25.5 million. ‘All our business operations delivered within business plan expectations in 2009,’ Batelco CEO Peter Kaliaropoulos commented on the results, which included a 19% year-on-year increase in the group’s mobile subscriber base to 5.1 million. Last month Batelco’s joint venture in India, STel, launched commercial mobile services, and was reported to have signed up 450,000 subscribers in its first six weeks.