The Bahrain Telecommunications Company (Batelco Group) has recorded a 2% increase in gross revenue for the nine months ended 30 September 2017 to BHD277.6 million (USD731.1 million), up from BHD273.0 million in the year-ago period. The group attributed this increase to improved revenues in its Bahrain operation, as well as in its Jordan and Maldives markets. EBITDA for the first nine months of 2017 dropped to BHD91.2 million, representing a year-on-year decline of 13%, with the drop mainly down to restructuring costs, the company stated. Batelco Group ended 9M 2017 with net profit of BHD25.2 million, a 22% decline from the corresponding period in 2016. This decrease was attributed to lower EBITDA due to restructuring and the loss of the company’s investment in Sabafon in Yemen due to the political unrest in the country.
In operational terms Batelco Group announced that at 30 September 2017 subscriber numbers were up 7% year-on-year and up by 1% from Q2 2017 to reach over 9.6 million.