Batelco has delivered sound financial results in the third quarter said chairman Shaikh Hamad bin Abdulla Al Khalifa at the board meeting held at the company's Hamala headquarters.
"Our operations in Bahrain and across the region, contributed to a turnover of BD256.2 million by the end of September, a 4.4 per cent increase over the same period last year and our net profit grew by 1.5 per cent to BD79.5 million, equivalent to earnings per share of 55.2 fils," announced Shaikh Hamad.
"With the support of all our employees, we delivered sound financial results in Q3. We continue to lead the telecommunications industry in Bahrain and we are increasing our market share in the overseas markets we operate in," he said.
Batelco Group CEO Peter Kaliaropoulos stated that despite challenging economic conditions in most markets Batelco operates in, the company continues to increase its customer base, improve customer service levels and has introduced many innovative new services and pricing plans.
"We remain focused on improving our operational performance whilst delivering better value to our customers," stated Mr Kaliaropoulos.
"For the first nine months in 2009 our people across the region contributed to growing our customer base and delivering BD79.5 million net profit. Our operating profit, year-to-date grew by a healthy 15 per cent to BD 83.4 million. As we have announced before, we are also investing in various start-up operations to capture future growth. Such investments, whilst dilutive in the short term, will create greater scale, improve efficiencies across the group and create increased shareholder value from new ongoing business ventures," he added.
Mr Kaliaropoulos said in keeping with the trend over the past year, growth has been realised both by the Bahrain and overseas operations.
