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FINANCIAL NEWS
Batelco reports fall in Q1 revenues by 1%
07 May 2017
(MENAFN) The Bahraini Batelco Group reported its quarterly results, posting fall in revenues of USD237.9m (BD89.7m) for Q1, marking a drop of 1% comparing to previous year, and 5% over Q4 of 2016.
The company announced in a statement that revenues were affected by competitive pressure in a number of markets across the Group.
According to report revealed by Batelco, the net profit was BD8.2mm posting a decline by 14% comparing to Q1 of pervious year, while net profit during Q1 of 2017 was impacted by BD1.5m share of loss from the company’s association in Yemen.
Batelco Group chairman said: “We continue to be responsive to changes in the various markets we operate in and strive to deliver relevant services and solutions that most suit our customers in each location.”
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MENAFN0705201700450000ID1095457648
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