Batelco finishes Q2 strongly with 45% increase in net profit

24 Jul 2018

Bahrain-based Batelco Group has built on its strong first quarter and recorded Q2 2018 net profit of BHD15.7 million (USD41.2 million), a 45% increase on the year-ago net profit figure of BHD10.8 million. The group’s operating profit also rose 29% year-on-year to stand at BHD20.2 million for the three months ended 30 June 2018, compared with BHD15.7 million in the year-ago quarter. EBITDA also saw positive growth to BHD36.4 million in Q2 2018, an increase of 15% y-o-y from BHD31.7 million. In terms of revenues Batelco Group performed strongly during the second quarter of this year, recording turnover of BHD100.5 million, a 10% rise from BHD91.4 million one year earlier. The group notes that the positive revenue figures are largely down to strong performances by its Bahrain and Jordan markets.

In operational terms Batelco Group recorded a slight decrease in subscriber numbers, with 9.2 million customers on its books at end-June 2018, down 3% from 9.5 million one year previously.

Bahrain, Bahrain Telecommunications Company (Batelco)