DUBAI, Jan 28 (Reuters) - Bahrain Telecommunications Co (Batelco) posted a 61 percent drop in fourth-quarter net profit, according to Reuters calculations.
The former monopoly, which had reported declining profits in 15 of the previous 17 quarters, made a net profit of 6.9 million dinars ($18.30 million) in the three months to Dec. 31, down from 17.8 million dinars in the year-earlier period, Reuters calculated from past financial statements.
One analyst polled by Reuters forecast Batelco’s quarterly profit would be 14.1 million dinars.
The Bahraini company made a full-year profit of 43.6 million dinars, down from 60.3 million dinars in the corresponding period of 2012, it said in an emailed statement on Tuesday.
Batelco has proposed a full-year dividend of 20 fils per share, plus a 5 percent bonus share issue. ($1 = 0.3771 Bahraini dinars) (Reporting by Matt Smith; Editing by Dinesh Nair)