Batelco boosts profits in 2000

Batelco, the sole telecoms provider in Bahrain, has announced a 9% increase in profits for the year 2000; taking the company’s net income to BD 52.5 million.

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By  Rob Corder Published  March 5, 2001

Batelco, the sole telecoms provider in Bahrain, has announced a 9% increase in profits for the year 2000; taking the company’s net income to BD 52.5 million (US$143).

The increased profits come from a year in which Batelco invested BD 35 million in enhancing its infrastructure, while at the same time reducing many tariffs, commented Shaikh Isa Bin Ibrahim Al Khalifa, deputy chairman of Batelco.

"A sound disciplined strategy of business development and cost control; pursing an overseas expansion program; diversifying and differentiating our products and services have been the basis for our successful results for this year once again," added Shaikh Isa.

Batelco also continued to fulfil its obligations to the national economy. "Nearly BD 2 million was invested in our most valuable assets, our workforce : 2,089 employees have been part of our continuous program of training and development. However, our role in the community does not lie only with being the employer of the highest percentage of national workforce, as BD 1 million have been allocated to donations, sponsorship and other welfare schemes, and that is complemented with more than BD 71 million being injected into the national economy over the past year by way of salaries, local expenditure and investments," said Shaikh Isa.

The year ahead will see Batelco continuing to leverage the expertise of Cable & Wireless, a major shareholder in the company as well as a global partner. It will also look to build on the four joint ventures it has secured with ISPs across the Middle East in Saudi Arabia, Jordan, Egypt and Kuwait.

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