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Batelco posts 1% decrease in H1 profits

Batelco posts 1% decrease in H1 profits
BEYON
BEYON
0.00% 0.54 0.00

Batelco Group reported a net profit of BD24.9M (US$66.0M) versus BD25.3M (US$67.1M) for the corresponding period in 2013, a slight decrease of 1% year over year and a 28% decrease since last quarter.

Profits for the period were impacted by continued competition in core markets and one-off adjustments.

EBITDA for the period was BD71.9M (US$190.7M), representing a healthy margin of 37%, compared to EBITDA of BD56.6M (US$150.1M) for the corresponding period in 2013, a 27% increase year over year and a 11% decrease quarter on quarter.

The company’s board approved approved interim cash dividend of 10 fils per share.