Batelco's 1Q results down due to domestic difficulties

21 Apr 2011

Bahrain Telecommunications Company (Batelco) has revealed that its first quarter revenues dipped 4% year-on-year to BHD80.8 million (USD213.8 million), contributing towards a 28% decline in net income to BHD17.5 million. The telco’s domestic wireless subscriber base fell 3% to 745,000 in the wake of increased competition and political instability in Bahrain. ‘An increase in revenue by Umniah (Jordan) and QualityNet (Kuwait) were offset by competition, regulation and the recent events in the Bahrain market,’ said CEO Peter Kaliaropoulos. Revenues from outside Bahrain accounted for 37% of group sales during the quarter, while total group subscribers reached 9.8 million. Batelco is part of the consortium which has provisionally agreed a deal with Zain for the purchase of the Kuwaiti firm’s Saudi Arabian subsidiary.

Bahrain, Bahrain Telecommunications Company (Batelco)