Home GCC Bahrain Batelco Records 8% Fall In 2011 Profits The Bahraini firm saw its subscriber base increase by 20 per cent year-on-year in 2011. by Aarti Nagraj January 26, 2012 Bahrain Telecommunications (Batelco) reported net profits of BHD80 million ($212 million) for 2011, a decline of eight per cent from 2010. Gross revenues for the year reached BHD327 million, down four per cent from 2010. However, the firm performed well in the fourth quarter of the year, recording a 13 per cent rise in net profits. “Whilst our financial results showed expected declines for the year in line with market guidance, we are nevertheless pleased to have ended the year on a strong note,” said Batelco’s chairman, Shaikh Hamad Bin Abdulla Al Khalifa. The company, which operates in seven countries across the world including Egypt, Yemen and India, said that for 2011, 37 per cent of its revenues and 30 per cent of operating profits were sourced from outside Bahrain. Batelco’s consolidated subscriber base reached 11 million by the end of the year, up 20 per cent from a year earlier. This was driven by a 21 per cent growth in mobile customers and an eight per cent rise in broadband subscribers. Tags Breaking News Telecoms 0 Comments You might also like Qatar’s Ooredoo supercharges data centres with NVIDIA AI tech GCC telcos embrace tech to diversify revenue streams EU probes e& Group deal to acquire Czech PPF Group’s telecoms assets Saudi Arabia’s stc Group considers possible offer for United Group