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Batelco net profit up 10% to $150m in 2020
MANAMA, February 21, 2021 Batelco, Bahrain’s leading telecom provider, has announced a net profit attributable to equity holders of BD56.7 million ($150.4 million) for the full year 2020, a 10% increase from BD51.6 million ($136.9 million) for 2019. The increase in net profit is mainly attributable to the 10% YoY decrease in operating costs which reflects Batelco’s successful cost containment programs, the company said. Earnings per share (EPS) are 3.9 fils for the fourth quarter of 2020 compared to 4.5 fils in Q4 2019 resulting in an EPS of 34.2 fils for the year compared to an EPS of 31.2 for 2019. The net profit attributable to equity holders in the fourth quarter (Q4) of 2020 amounted to BD6.5 million ($17.2 million), a 12% decrease from BD7.4 million ($19.6 million) for the corresponding period of 2019.
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The Daily Tribune – www.newsofbahrain.com
His Majesty King Hamad bin Isa Al Khalifa’s vision to promote peace and co-existence in the region was hailed by South Korea’s National Assembly Speaker Park Byeong-seug.
This came as His Royal Highness Prince Salman bin Hamad Al Khalifa, Prime Minister and Crown Prince, received yesterday the Speaker at Riffa Palace.
“The Bahraini leadership has stressed ambitions to establish peace and coexistence in the region. And HM the King pays great attention to achieving peace in the region and prosperity in Bahrain,” said Park, the first Korean Speaker to visit the Kingdom.