October 30, 2013 / 12:41 PM / 4 years ago

UPDATE 1-Bahrain's Batelco third-quarter profit rises 43 pct

* Q3 profit 11.45 mln dinars vs 8 mln dinars a year ago

* Profit up after purchase of division of Cable & Wireless Communications

* Q3 revenue 100.49 mln dinars vs 72.3 mln dinars a yr ago (Adds details, context)

By Matt Smith

DUBAI, Oct 30 (Reuters) - Bahrain Telecommunications Co (Batelco) posted a 43 percent increase in third-quarter profit on Wednesday as earnings from the company’s largest-ever acquisition earlier this year added to the bottom line.

Batelco, which is run by a committee of board members after several senior executives quit, made a net profit of 11.45 million dinars in the three months to Sept. 30, up from 8 million dinars in the year-earlier period.

One analyst had forecast Batelco’s quarterly profit would be 14.9 million dinars.

The former monopoly, which had posted declining profits in 12 of the previous 13 quarters, competes domestically with units of Kuwait’s Zain and Saudi Telecom Co.

Tough competition at home prompted Batelco to buy Cable & Wireless Communications’ Monaco and Islands division for $570 million in April.

Third-quarter revenue was up 39 percent to 100.49 million dinars following the acquisition.

Batelco’s nine-month revenue rose 19 percent to 271.2 million dinars, of which 53 percent came from abroad.

Batelco also owns Jordanian telecoms operator Umniah, 27 percent of Yemeni mobile operator Sabafonn as well as minority stakes in Internet providers in Kuwait and Saudi Arabia.

Former Chief Executive Sheikh Mohamed bin Isa al-Khalifa quit in May, Chief Financial Officer Marco Regnier resigned in August and company veteran Peter Kaliaropoulos - whose roles at the firm had included CEO and chief operating officer - left in June. (Reporting by Matt Smith; Editing by Sami Aboudi and Pravin Char)

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