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Batelco's net profits decline 28% in 2013 on one-off expenses

January 31, 2014

Bahrain -based telecom operator, Batelco, saw its net profit drop 28% to USD 115.6mn in 2013 impacted by a number of one off expenses partly related to the acquisition of the Islands Portfolio from Cable and Wireless Company (CWC), the company said in a press release. Nevertheless, the company's EBITDA at USD 320.2mn for 2013 retained a healthy 33% margin for the financial year due to positive impact of overseas operations and improved performance in the domestic market. Gross revenue grew by 22% to USD 983mn with fully 54% of revenue and 50% of EBITDA generated from overseas operations.

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Source: IntelliNews - Weekly Reports

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