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Batelco customers have never had it so good, the company declared as it reported a net profit of BD52.3 million for the first half of the year.
Customers are getting better and cheaper services than ever before, the company said as the results were revealed after a board meeting headed by chairman Shaikh Hamad Bin Abdulla Al Khalifa.
They are the real beneficiaries as Batelco grows and consequently delivers a better performance, said Shaikh Hamad.
The half-year net profit is 10.2 per cent up on the same time last year.
Gross revenues grew to BD136.4 million, whilst net revenues grew by 25 per cent over the same time last year.
Earnings per share of 44fils were also announced and the board’s recommendation of a cash dividend of 20fils per share was approved.
The net profit results include a one-off benefit of BD4.7 million as a result of write-back for provisions relating to network assets and an investment return.
“This strong set of half year results was delivered as a result of Batelco’s strategy to expand across the region but not losing focus on Bahraini customers’ demands for better products, better service and more affordable prices,” said Shaikh Hamad.
“Our top priority remains the Bahrain market. We continue to offer better value and a complete range of advanced products and services for our customers. We intend to remain the first choice for consumers and businesses with new technologies and smart solutions.”
Chief executive Peter Kaliaropoulos said that a strong performance in the Bahrain market was critical to Batelco’s strategic expansion across the Middle East.
Shaikh Hamad said Batelco’s priority was to ensure better value and service to customers in Bahrain, but it was also increasingly focusing on creating a strong, regional operation to tap into new markets for the future. “We are determined to transform Batelco into a company most admired by Bahrainis for its service and strength across the region,” he said.
