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Batelco chairman Shaikh Hamad bin Abdulla Al Khalifa announced a strong start to 2008 with a net profit of BD27.4 million, an increase of 10.8 per cent for the first quarter of the year compared to the same period last year.
Gross revenues grew by 17.4 per cent to BD78.1 million and, basic earnings per share increased from 17.2 fils to 19.1 fils over the same period.
Shaikh Hamad said that Batelco's focus on maintaining a leadership position in key segments in the kingdom has been a major contributor to the first quarter financial success.
Also central has been Batelco's continuing efforts to win new customers at home through innovative offerings and via the delivery of its world class products and services to its subsidiaries in the region.
Batelco chief executive officer Peter Kaliaropoulos said that Batelco continued to deliver double digit top and bottom line results in the first quarter. He said that in Q1, Batelco adopted a more conservative Bad Debt Provision Policy, streamlined depreciation policies for its Umniah mobile operation, refunded two weeks internet charges to its Bahrain customers and provided for restructuring its operations via the Employee Redeployment Programme.
