Bahrain Telecommunication Company, trading as Batelco, has announced a net profit attributable to equity holders of the company of BHD65.9 million ($174.8 million) up 16% from the previous year's figures of BHD56.7 million ($150.4 million).
Announcing the results for the 12 months ended December 31, 2021, the principal telecommunications company in Bahrain said the increase in net profit was mainly because of a sharp rise in revenues for the year which surged to BD399.6 million ($1.06 million) from BD387.3 million ($1.03 billion) in 2020.
The telecom services operator attributed the revenue hike to mainly the year-on-year increases in fixed broadband, adjacent services, and wholesale revenues of 11%, 7%, and 9% respectively.
Batelco Chairman Shaikh Abdulla bin Khalifa Al Khalifa said: “The past year was distinguished by key achievements across our core businesses and advances in our digital growth, including the launch of Batelco’s first digital brand, Beyon Money. We are extremely happy to enter this new chapter and look forward to seeing the developments in the coming year.”
On plans for 2022, he said that digital growth will continue to factor strongly in the Company’s plans to play a bigger role in areas beyond our traditional core business. "I have confidence in the commitment of Batelco’s management and team members and look forward to a successful year ahead,” he added.
