- Revenue grew 3% year-on-year to BD379.4M (US$1,006.4M), first organic revenue growth since 2009

21/02/2018 16:15 AST

Batelco, the regional telecommunications group with operations across 14 countries, today announced a 3% increase in gross revenues, reaching BD379.4M (US$1,006.4M) for the full year 2017, as compared to BD367.1M (US$973.7M) in 2016.

Organic gross revenue, which grew for the first time since 2009, was boosted by double-digit growth in broadband and digital services, reporting 16% and 13% growth respectively. Quarter on quarter gross revenues also reported an 8% increase compared to 2016 of BD101.9M (US$270.3M) in Q4 2017 compared to BD94.1M (US$249.6M) in Q4 2016.

Group operating profit grew by 2% notwithstanding voluntary employee retirement costs of BD8.1M (US$21.5M) incurred in Batelco Bahrain. Adjusted net profit, excluding impairments and one-off gain on land, was more than BD40.0M (US$106.1M). The Group’s balance sheet remains robust, with cash in hand of BD158.7M (US$421.0M).

The Board of Directors has recommended a full year cash dividend of BD41.6M (US$110.3M), at a value of 25 fils per share to be agreed at the Group’s Annual General Meeting, of which 10 fils per share was already paid during the third quarter of 2017 with the remaining 15 fils to be paid following the AGM in March 2018. The dividend is consistent with previous years and is an example of Batelco’s commitment to its shareholders.

Batelco’s Chairman Shaikh Mohamed bin Khalifa Al Khalifa, said: “We continue to progress well in order to execute our strategic plan. The business is in great shape, with strong fundamentals, a solid subscriber base and a local market that is outperforming. However, some of our international businesses continue to feel the impact of the political and economic instability across the region and we are providing them with all the support necessary to get them through this difficult period.

“Overall, I am pleased to see that our hard work is paying off. We have maintained a robust cash position and we will pay our shareholders a dividend this year consistent with prior year payouts. I am highly optimistic for the future of Batelco Group as we continue into 2018. We have a sound strategy, an accomplished executive team and a pipeline of products and services to support us in our path forward. As we look ahead, our goal is to build on this recent success and continue to be a national champion for Bahrain.”


Press Release

Batelco set to offer eSIM service

05/12/2018

Batelco, Bahrain's leading telecom services provider, has successfully completed the technical deployment of eSim technology and made its first eSim-equipped device call.

The service wil

Trade Arabia

Batelco, AFS win smart finance solution award

03/10/2018

Batelco, a leading digital solutions provider in Bahrain and Arab Financial Services (AFS), the region’s foremost FinTech enabler, were recently honoured with the Smart Finance Solution award at the

Trade Arabia

Batelco inks deal with Dilmunia Mall Development Company

09/09/2018

Batelco, the leading digital solutions provider in Bahrain, said it has signed a partnership deal with Dilmunia Mall Development Company for its unique family-centric retail and leisure destination,

Trade Arabia

Ticker Price Volume
QNBK 196.99 124,786
SABIC 119.80 1,240,718
APPC 53.30 133,976
SAICO 11.92 520,367
JARIR 154.40 89,382
EMAAR 3.98 14,411,747
ALINMA 22.04 8,511,404
BATELCO Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
TABREED 1.51 0.00 (0.00%)
ADNH 3.15 0.00 (0.00%)
AMANAT 1.09 -0.01 (-0.91%)
ADAVIATION 3.30 0.00 (0.00%)
NCTH 1.98 0.00 (0.00%)
S&P revises QIB outlook to ‘stable’, affirms ‘A-’ rating

11/12/2018

International credit rating agency, Standard & Poor’s (S&P) has revised the outlook on Qatar Islamic Bank (QIB) to ‘stable’ and affirmed the ‘A-/A-2’ issuer credit rating.

According to the

Gulf Times

NBF awarded ‘Best Islamic Window UAE’ award

11/12/2018

National Bank of Fujairah (NBF) announced that NBF Islamic has retained the ‘Best Islamic Window — UAE’ accolade for the third consecutive year at the Islamic Business and Finance Awards 2018.
<

The Gulf Today

UAE investment group buys key stake in Gulf Navigation

11/12/2018

UAE-based Goldilocks Investment Company said it has reached an agreement with Gulf Navigation Holding, a leading maritime and shipping company based in Dubai, to acquire a 18.32 per cent stake in the

Trade Arabia

Agility Kuwait invests $100 mln in logistic technology sector

11/12/2018

Agility Public Warehousing Company (KSC) announced Monday investing $100 million for the next three years in logistic technology sector, via launching a digital platform to manage electronicallylinke

Arab Times

Alinma Bank hosts Fintech Forum

10/12/2018

ALINMA Bank hosted its first-ever FinTech-focused event at the Four Seasons hotel in last Dec. 3, 2018. The gathering was hosted by the bank in partnership with FinTech Saudi and Alinma Investment Co

Saudi Gazette