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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.”
MENAFN0705201700450000ID1095457648
MENAFN0705201700450000ID1095457648
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