Batelco 1H06 profits hit US$126 million

Just a few weeks after announcing its purchase of Jordanian mobile operator Umniah, Batelco has reported its first half results, with profits up 11%.

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By  Alex Ritman Published  July 13, 2006

Bahraini national operator Batelco has announced its first half results, reporting an 11% increase in profits over 1H05 to US$126 million.. Gross revenues reached US$282 million while net revenues rose by 4% over 2005. Not included in the results are any contributions from Batelco’s newest acquisition, Umniah. Late last month the operator bought a 96% stake in Jordanian mobile operator Umniah for US$415 million. The Jordanian GSM operator has managed to attract over 520,000 subscribers – 13% of the market – since it began commercial operations in June 2005. The acquisition is part of a three-year plan Batelco has to attract 30% of its revenue from its overseas operations. With Umniah, Batelco is expecting to grow its mobile customer base by 120% by the end of 2006, providing services to over 1.2 million subscribers. Within Bahrain, the country's Telecommunications Regulatory Authority (TRA) has ordered Batelco to reduce its prices and expand services to give other operators access to its national network. The TRA has reviewed Batelco’s first Reference Acccess Offer – its fee to other operators wishing to have access to its network – and concluded that Batelco has not set fair and reasonable tariffs, terms and conditions. Batelco is expected to make a statement regarding the issue in the next few days.

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