Batelco Announces over 25 Million BD Profit within 9 Months
2017-10-31 - 7:34 p
Bahrain Mirror: Batelco announced that it has achieved profit of BD25.2M (US$66.8M) until third quarter of 2017 .The Group has maintained stable revenues with increases over the previous quarter and over Q3 2016
For the nine-month period, the Group's Gross Revenues are up by 2% year-on-year to BD277.6M (US$736.3M) supported by improved revenues in the Bahrain operation, Umniah in Jordan and Dhiraagu in the Maldives. Gross Revenues also showed an improvement of 6% over the previous quarter in 2017 and 7% over Q3 2016.
EBITDA for the period was BD91.2M (US$241.9M), a 13% decline year over year, 14% quarter-on-quarter decline over Q2 2017 and 20% quarter-on-quarter decline over Q3 2016. The drop in EBITDA is mainly attributed to restructuring costs incurred in Q3 2017. However, the Group continues to sustain a robust EBITDA margin of 33%.
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