Flip through the latest issue of Gulf Weekly.
BATELCO chairman Shaikh Hamad bin Abdulla Al Khalifa announced a strong start to 2007 with a net profit of BD24.8 million, an increase of seven per cent for the first quarter of the year versus Q1 2006.
Gross revenues grew by 26 per cent to BD66.5 million and, earnings per share increased from 19 to 21 fils over the same period.
Speaking at the company’s board meeting, Shaikh Hamad said that Batelco remains focussed on delivering new services to its customers in Bahrain but also continues to accelerate the growth of the company in the region.
“As Bahrain’s residents are offered additional mobile, fixed telephony and Internet alternatives by competitors, we need to keep delivering better value services and be more responsive to customer needs,” he said.
“We need to keep investing in Bahrain in technology and in the development of our people, to remain competitive. We are also focused in executing a niche growth strategy in the Middle East by focusing in areas of substantial growth from broadband and mobile operations,” Shaikh Hamad added.
Batelco chief executive Peter Kaliaropoulos elaborated that the purchase of a 20 per cent shareholding in SabaFon, Yemen’s leading mobile communications company is consistent with such strategy and furthers Batelco’s aspirations for regional growth.
