Flip through the latest issue of Gulf Weekly.
BATELCO_posted a net profit of BD54.2 million ($143.8 million) in the first half of this year - an increase of seven per cent over the corresponding period last year 2008.
It also posted a half-year growth in gross revenues to BD170.6 million ($452.5 million), a six per cent increase over the same period last year.
This profit included an impairment of BD2.6 million for existing investments in non-core operations.
Earnings per share were 37.6 fils. The board approved an interim cash dividend of 20 fils per share.
"Batelco continues to grow in Bahrain, even though there are now 70 other operators licensed to compete in the local market.
"Batelco also continues to grow overseas and for the first time is establishing a presence outside of the Middle East region through its investment in Indian mobile operator S Tel Limited (S Tel)," said chairman Shaikh Hamad bin Abdulla Al Khalifa.
Chief executive officer Peter Kaliaropoulos said that Batelco's Group of companies, despite softening of economic activity in global and regional markets, delivered record half year revenues at $452.5 million.
"We are delighted that growth has been realised both in Bahrain and all our overseas operations which now represent 31 per cent of Batelco's revenues," he added.
The group's 96 per cent owned subsidiary in Jordan, Umniah, is on track for double digit earnings growth buoyed by a 13 per cent increase in the number of mobile subscribers, with a customer base now standing at 1,487,000.
Sabafon, in which the group holds a 26.94 per cent equity investment, has delivered an 18 per cent year-on-year growth in revenue with the mobile subscribers base increasing by 29 per cent, for a total customer base of 2,440,000.
