Batelco announce profit increase

Batelco, Bahrain's telecom monopoly, is celebrating a huge increase in profits for the first six months of this year.

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By  Mike Bayman Published  August 23, 2001

Bahrain’s telecom monopoly Batelco is celebrating after announcing a huge leap in net returns in the first half of this year.

Revenue and profits were also both up on the first six months of 2000.
“Compared with the same period last year, the total revenue has grown by 14 per cent and the net profit before appropriation by 3 per cent to $75.6 million,” said HE Shaikh Ali bin Khalifa Al Kalifa, chairman of Batelco and Bahrain’s minister of transport. “This represents a return on capital employed of 24 per cent on an annualised basis.

“These results are not a product of circumstance or chance,” he said. “They arise from a clearly defined vision and the implementation of a disciplined strategy towards the achievement of the corporate and individual targets we set within the group. This kind of achievement takes effort, energy and investment, and I believe that Batelco’s determined initiatives in this regard are evidenced in these results.”

The rise in profits will come as a relief to Batelco, which is currently facing the prospect of losing its monopoly as soon as next year. After having the market to itself for 20 years, it will be looking to defend itself against coming competition.

Batelco has spent the last 12 months strengthening its position, expanding its GSM network to cover 320,000 subscribers (roughly half the population, the same level of penetration as Germany), and adding capacity for VoIP calls in the near future.

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