Bahrain-based global telecom group, Batelco reported a net profit of $USD60.2 million (22.7 million dinars) for the first six months of the year, an 18 percent decline compared to the corresponding period in 2015. The Operator also posted a 1.7 percent decline in net profit to $USD34.8 million($13.08 million dinars) in the three months ended June 30, partly due to one-off loss of the group’s investment in Sabafon, Yemen.
Batelco Group has direct and indirect investments across 14 geographies, including Bahrain, Jordan, Kuwait, Saudi Arabia, Yemen, Egypt, Guernsey, Jersey, Isle of Man, Maldives, Diego Garcia, St. Helena, Ascension Island and the Falkland Islands.
The Group’s gross revenues are down by 2 percent year-on-year (YoY) to $USD485.1 million (BD182.9 million) in the first halt of the year mainly due to competitive pressures in key markets. However, revenues have remained steady in the second quarter of 2016 compared to Q2 2015 and with a slight increase of 1 per cent since Q1 2016.
The group's overall customer base was down by 8% when compared with Q1 of 2015.
In the first quarter of 2016, the company launched its 4G high-speed Internet services for cosumers and its LTE fixed services for households and businesses, enhancing its coverage in Bahrin with over 1300 4G sites.