Batelco H113 revenue down 22% on acquisitions

Batelco reported that its first half profits fell by 22 per cent to BD27 million (US$81.8 million) due to the acquisition and related financing of its acquisition of the Island Units (Dhiraagu, Channel Islands & Isle of Man, South Atlantic and Diego Garcia) from Cable & Wireless Communications (CWC).

The group’s revenue for the period rose by 10 per cent to BD170.7 million.

At the end of the six month period, 50 per cent of revenues and 48 per cent of EBITDA was attributable to operations outside of Bahrain.

The group subscriber base was up by 24 per cent at 8.6 million.