DUBAI, July 30 Bahrain Telecommunications Co
(Batelco) posted a 22 percent fall in net profit in
the first half of the year weighed down by one-off expenses
related to acquisitions and related financing, it said in a
statement on Tuesday.
The former monopoly, which has reported declining profits in
past several quarters, said first-half net profit fell to $71.6
million compared with $91.8 million for the same period last
"Profits for the period were impacted by a number of one off
expenses associated with the acquisition and related financing,"
Batelco said in the statement.
The operator, seeking to offset declining domestic profit
and revenue, in April completed the $570 million purchase of
Cable & Wireless Communications' Monaco and Islands
Batelco competes with units of Kuwait's Zain and
Saudi Telecom Co in Bahrain, while it also owns
Jordanian telecoms operator Umniah, 27 percent of Yemeni mobile
operator Sabafon, minority stakes in internet providers in
Kuwait and Saudi Arabia and is also active in Egypt.
The telco said its board approved an interim dividend of 10
fils per share.