Bahrain's Batelco Q1 net profit rises 8 pct

DUBAI, April 30 Wed Apr 30, 2014 7:04am EDT

DUBAI, April 30 (Reuters) - Bahrain Telecommunications Co (Batelco) posted an 8 percent rise in first-quarter profit on Wednesday.

The former monopoly, which had reported declining profits in 16 of the previous 18 quarters and went nearly a year without a permanent chief executive, made a net profit of 14.5 million dinars ($38.46 million) in the three months to March 31, up from 13.4 million dinars in the year-earlier period.

One analyst polled by Reuters forecast Batelco's quarterly profit would be 12.4 million dinars. ($1 = 0.3770 Bahraini Dinars) (Reporting by Matt Smith; Editing by Olzhas Auyezov)

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