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FINANCIAL NEWS
Bahrain Telecom reports USD49m profit in Q2
28 Jul 2012
(MENAFN) Bahrain Telecommunications Co (Batelco) reported a 13 percent decline in quarterly profits on stiff competition and slower economy growth in its home market, Gulf News reported.
The company said it made USD48.75 million net profit during the second quarter, down from USD56.14 million a year earlier.
Total revenue hit USD409.31 million in the quarter. Home revenue fell 7.5 percent to USD249.7 million from a year ago.
Bahrain’s telecoms sector is arguably the most liberalised in the Gulf. The kingdom has three mobile operators including Batelco and units of Kuwait’s Zain and Saudi Telecom Co, in addition to about 10 Internet providers serving a population of around 1.3 million.
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