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Batelco held its ordinary and extraordinary general meetings this week at the Regency Intercontinental Bahrain, with shareholders, company directors, senior management, employees and members of the Press in attendance.
Batelco Group achieved a year-on-year rise in gross revenues of 25 per cent to $777.4 million (BD293.1 million) with net profits reaching a record breaking level of $269.2 million an increase of 13.6 per cent compared to 2006. Operating expenditure and overheads have been diligently managed and earnings per share rose to 84.6 fils from 74.4 fils in 2006.
"Batelco's success comes as a direct result of the inspired planning of our leadership team and the outstanding efforts of our employees," said Batelco chairman Shaikh Hamad bin Abdulla Al Khalifa.
"During 2007, we entered the Yemeni market through our acquisition of a 20 per cent shareholding in Sabafon, Yemen's largest GSM mobile operator, reaching 1.5 million mobile subscribers as of the end of 2007.
Batelco chief executive Peter Kaliaropoulos said that during 2007 Batelco continued to successfully implement a strategy based on the transformation of the group's operational capabilities.
