Mubasher: Preliminary financial results released on Monday revealed that net profit of Bahrain Telecommunications (Batelco) fell in the fourth quarter of 2015 by 3.6%, compared to the same period of 2014.
Batelco’s net profit reached BHD10.135 million ($26.87 million), against BHD10.517 million ($27.89 million) in the fourth quarter of 2014, according to bourse filing.
At the level of annual results, the company’s profit dipped 1% to BHD56.845 million, compared to 57.388 million in 2014.
The operating profits of the Manama-listed company declined by 10% from BHD77.7 million ($206.1 million) in 2014 to BHD70.2 million ($186.2 million) in 2015.
The telecom operator’s total revenue settled at BHD372.4 million ($987.8 million), compared with BHD389.7 million ($1,033.7 million) on 2014, down by 4%.
Batelco said its board of directors would recommend distributing dividends for FY15 at BHD41.58 million ($110.29 million), or 25 fils per share.
Batelco Chairman Hamad bin Al Khalifa said the difficulties in markets in which his company operates led to a decline in customers’ number and lower revenues.
Al Khalifa added that Batelco will enhance the number of customers and profits by reducing expenses and investing in new networks.
Ihab Hinnawi, CEO of Batelco Group said that total number of group’ customers decreased by 5% compared to last year due to the decline of Sabafon customers due to the turmoil in Yemen.
