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FINANCIAL NEWS
Bahrain’s Batelco records USD60mn profit in H1
07 Aug 2016
(MENAFN) Bahrain- Batelco, an Intl’ telecom group posted a net profit of USD60.2mn for the Jan- June period this year, an 18 percent drop compared to the same period of 2015.
Moreover, the group posted a decline for Q2 2015 of 2 percent in profit, which were impacted by one-off items and USD2.4mn share of loss of the group’s investment in Sabafon.
Additionally, the group’s gross revenues are down by 2 percent yearly to USD485.1mn, due to pressures in key markets, while revenues remained steady in Q2 this year.
On the other hand, Batelco was able to continue its positive cost containment programs resulting in a 5 percent reduction in expenditure, compared to the same period last year.
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