Flip through the latest issue of Gulf Weekly.
Batelco reported year-on-year gross revenues growth of nine per cent to $846.4 million (BD319.1 million) while net revenues grew by 10 per cent to $666.8 million in 2008.
Batelco delivered its highest ever net profit of $276.4 million an increase of 2.7 per cent compared to last year's earnings, even though the company booked an impairment provision of $3.5 million relating to non-operating investments. Earnings per share rose to 72.4 fils from 70.5 fils in 2007.
This was revealed at its annual general meeting which was attended by shareholders, company directors, senior management, employees and members of the media.
A total cash dividend of 50 fils per share for 2008, aggregating $191 million was approved at the AGM. Batelco paid 20 fils per share as the interim dividend in July 2008 and the remaining 30 fils will be paid this month.
"Batelco's strategy in delivering the most comprehensive range of quality products and services at competitive prices in Bahrain and strong performances from our subsidiaries overseas contributed to the company's most impressive overall accomplishments and record breaking financial results," said Batelco chairman Shaikh Hamad bin Abdulla Al Khalifa.
"Our clear vision to create a more customer responsive company has buoyed our business in Bahrain and continued to bolster our growing reputation for reliability throughout the region."
Batelco chief executive Peter Kaliaropoulos said:_"During 2008, the group continued to consolidate its position in the Middle East, building on a sound and successful strategy to grow and transform operational capabilities.
"We remained committed to supporting our customers by delivering more choice, innovation and better value in Bahrain. Dedication to our customers is vital in Bahrain's competitive market where there are now over 160 licences issued."
