Batelco suffers profits decline in Q214

Batelco has reported a 22.4 per cent decline in its second quarter profits as the company was hurt by one-off costs as well as increased competition in its core markets.

The company did not elaborate on what the one-off costs were.

Batelco is estimated to have made a net profit of US$27.6 million for Q214, based on calculations from its first-half financial statement.

Revenues however rose by 14 per cent to BHD194.6 million (US$515.9 million), and the company earned 57 per cent of its revenues from outside its home market, a rise on the 51 per cent a year ago.

The company operates in a number of Middle East and African countries and ended the period with nine million customers.