July 27, 2014 / 5:46 AM / in 3 years

Bahrain telco Batelco Q2 net profit slumps 22.4 pct

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DUBAI, July 27 (Reuters) - Bahrain Telecommunications Co (Batelco) posted a 22.4 percent drop in second-quarter profit on Sunday, according to Reuters calculations.

The former monopoly, which had reported declining profits in 16 of the previous 19 quarters, made a net profit of 10.4 million dinars ($27.6 million) in the three months to June 30, down from 13.4 million dinars in the year-earlier period.

Batelco didn't provide a quarterly breakdown so Reuters based its calculations on its first-half financial statement.

The operator said its board was proposing to pay a cash dividend of 0.01 dinar per share for the period. This is in line with the amount paid in the corresponding period last year, according to Thomson Reuters data. ($1 = 0.3770 Bahraini Dinars) (Reporting by David French; Editing by Andrew Torchia)

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