Bahrain-based telecoms operator Batelco on Thursday announced net profit of BD7.4 million ($19.6 million) in the fourth quarter of 2019, up 82 percent from the corresponding period of 2018 when net profit was impacted due to one-off charges.
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…952 | the publication reaches you by | Bahrain News
Revenues for the fourth quarter decreased by 1 percent to BD102.9 million while revenues for the full year reached BD401.5 million, also down by 1 percent.
However, it added that revenues in its home market of Bahrain increased by 5 percent boosted by revenues from fixed broadband, data communications and mobile services.
Batelco chairman Sheikh Abdulla bin Khalifa Al Khalifa said:
“I am pleased to announce strong financial results which is a result of effective implementation of strategic initiatives, robust operational performance and solid financial discipline.
“Having restructured our organisation following the separation of the company, we have embarked on a new journey to create a transformed Batelco for this new decade.”
Batelco CEO Mikkel Vinter added:
“Batelco will be focused on two main areas, to strengthen our core connectivity business and to continue with our digital transformation journey.”
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