Batelco records 22 percent profit increase in 3Q 2002
The Batelco Group recorded a 22 percent profit increase in the third-quarter of 2002 over the same period last year. Results for the nine months of the year show that Batelco returned profits of 52.3 million Bahraini dinars ($138.7 million) from a gross turnover of BD138 million, a 10 percent increase compared to the same period last year.
In addition to expenses over the nine-month period of BD 70 million, nearly BD 20 million was invested in Batelco Group’s telecomms capability. Earnings-per-share for the nine-month period was 52 fils, representing a 22 percent increase on the previous year.
The third-quarter financial results amount to a return on capital employed - or rate of payback on the sum of cash invested to run the business of 27 percent on an annualized basis. — (menareport.com)
© 2002 Mena Report (www.menareport.com)