News Column

Bahrain : BATELCO GROUP: Net Profit in H1, 2014, declined from H1, 2013, to US$ 66m

July 28, 2014

Batelco Group recently has unleashed its report card for the first half of this year ended 30th June, 2014.

According to the company s announcement, the net profit of the firm during the first six months of 2014 has dropped to US$ 66 million from the same period in last year s figure of US$ 67.1 million.

The Bahraini Group has attributed this decline in profit to sustained rivalry in core markets and one-off adjustments. The company s EBITDA of US$ 190.7 million in H1, 2014, reflect a margin of 37%, in comparison with EBITDA of US$ 150.1 million in the year-ago period, representing an annual growth of 27% and a decline of 11% Quarter-on-Quarter.

The company, which is listed on the Bahrain Bourse, has announced that its revenue during the first six months of this year has increased by 14% from same period in 2013 to US$ 516.2 million.

Batelco's bottom line has been buoyed by the performances of its overseas operations, mainly Dhiraagu Maldives and Sure Channel Islands and Isle of Man. The Group s overseas business accounted for revenues of 57% and EBITDA of 54% into the overall revenues and EBITDA of Batelco.

As of end of 30th June, 2014, Batelco's customer base had reached the levels of 9 million, representing an annual growth of 4%. This growth is attributable to the Group s robust performance in crucial local and Jordanian markets.

The Group's broadband subscriber base grew 7% year-on-year to stand at about 287,000 users, and the figure also represents a slight rise of 1% from the earlier quarter.

There has been a 23% growth in the mobile subscriber base in Bahrain from the last year period to surpass the figure of 1 million, and the figure also reflects a 14% increase from the first quarter of 2014.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters