Bahrain Telecom’s Q4 net profit up 10%

Batelco's earnings come in line with analysts' estimates, at $68.64mn for period ended Dec 31 2008.

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By  Frederik Richter Published  January 21, 2009

Bahrain Telecommunications Co (Batelco) posted on Wednesday a 10 percent rise in fourth-quarter net profit, in line with expectations.

The company made a net profit attributable to shareholders of 25.87 million dinars ($68.64 million) in the three months to Dec. 31, up 10 percent from the 23.31 million dinars profit it made a year earlier, according to Reuters calculations.

Batelco said in a regulatory filing that full-year profit rose 2.3 percent to 104.2 million dinars ($276.47 million).

In a Reuters survey last month, Global Investment House said it expected Batelco's fourth-quarter profit to reach 24.9 million dinars ($66.06 million).

Batelco earned 78.33 million dinars ($207.83 million) in the first nine months of 2008 and 23.3 million dinars ($61.82 million) in the fourth quarter of 2007. (Reuters)

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