Bahrain's Batelco posts 11% rise in Q1 net profit

Batelco chairman, Sheikh Abdulla bin Khalifa Al Khalifa, says he is very pleased with the strong start to 2019
Bahrain's Batelco posts 11% rise in Q1 net profit
By Sam Bridge
Thu 02 May 2019 04:05 PM

Batelco, the Bahrain-based telecommunications group, on Thursday reported a 11 percent rise in net profit in the first quarter of 2019 compared to the year-earlier period.

Net profit increased to BD14.6 million while revenue rose 2 percent to BD101.2 million, the company said in a statement.

Revenue continued to be positively impacted by strong performance at Batelco Bahrain, Umniah in Jordan and Dhiraagu in the Maldives, it added.

Batelco chairman, Sheikh Abdulla bin Khalifa Al Khalifa, said that he was very pleased with the strong start to 2019.

“We are delighted to continue to deliver growing revenues and profits keeping in line with our improved financial achievements during 2018. The successful implementation of our strategic plans across the Batelco Group has established a very sound platform which our teams continue to build on.

“Investment in fibre and data, two key areas of our focus, has helped to generate good growth in revenues, while our net profits have been boosted by 11 percent year-on-year supported by cost containment programmes,” he added.

For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.