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Batelco’s profit rises 3% YoY in 2019

Batelco’s profit rises 3% YoY in 2019
Total assets increased to BHD 992.9 million
Batelco
BATELCO
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Mubasher: Bahrain Telecommunication Company (Batelco) has posted a 3% year-on-year profit increase during the fiscal year 2019.

The company’s net profit attributed to shareholders rose to BHD 51.6 million ($136.9 million) last year, compared to BHD 50.1 million ($132.9 million) a year earlier, according to a statement released on Thursday.

Total assets increased to BHD 992.9 million in 2019, from BHD 912.4 million in 2018.

Batelco’s board recommended the distribution of 27.5 fils per share in cash dividends.

It is noteworthy that the Bahraini company’s profit declined by 4% YoY to BHD 44.2 million.