Batelco’s profits shrink 8%

Bahrain-based telecoms group Batelco, with operations across six countries, has reported an 8% year-on-year decline in net profit to BHD16.1 million (USD42.7 million) for the first quarter of 2012, with EBITDA also falling, to BHD28.3 million, down from BHD32.6 million for the same period in 2011. The group’s gross revenues stood at BHD78 million for the three months ended 31 March 2012, down by 4% from BHD80.8 million in Q1 last year

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OVETEL Batelco’s profits shrink 8%