Batelco reports $161 million net profit for 2003
The Bahrain Telecommunications Company (Batelco) has reported a net profit of 60.7 million Bahraini dinars ($161 million) for 2003, a 22 percent return on employed capital.
Gross revenue for the period increased from BD 185.7 million in 2002 to BD 192.1 million in 2003, reported a press release. Shareholders attending the Annual General Meeting approved the distribution of cash dividends at the rate of 45 fils per share.
Over the course of the year, Batelco made significant contributions to the local economy in the form of salaries, purchases of goods and services, and dividend payments, which totaled over BD 100 million for the year. The company donated two percent of its profits for the year to charities and worthy causes in the Kingdom. The donations amount to more that BD 1.2 million. — (menareport.com)
© 2004 Mena Report (www.menareport.com)