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FINANCIAL NEWS
Bahraini Batelco Q2 net profit up 27.5 percent
08 Aug 2015
(MENAFN) Bahrain Telecommu-nications Co. (Batelco) has posted a 27.5 percent rise in second-quarter profit as cost savings and lower interest expenses outweighed a decline in revenue.
Battle has arrested a sustained earnings decline, with profits up in five of the nine quarters since its acquisition of most of the islands division of Cable & Wireless.
Before that, Batelco’s profits fell in 16 of 18 quarters to the three months ending June 30, 2013.
Batelco made a net profit of USD35.29 million in the three months ending June 30, up from USD27.49 million a year earlier, the firm said in a statement.
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