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FINANCIAL NEWS
Batelco’s net profit for H1 grows USD50mln
22 Jul 2017
(MENAFN) Bahrain’s Batelco Group, the global telecom company with operations across 14 countries, has posted a net profit of BD19 million (USD50.4 million) for the first half (H1) of the year.
As net profit declined a 16% compared to the corresponding period in 2016 and a quarter on quarter decline of 17% over Q2 2016.
Moreover, the net profit is up by 32% compared to Q1 2017 as Q1 results were impacted by the share of loss from the group’s investment in Sabafon, Yemen, due to the continued instability in the region caused by political unrest.
MENAFN2207201700450000ID1095647380
MENAFN2207201700450000ID1095647380
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