Bahrain Telecom First-Half Profits Soar 25 percent
The profits of Bahrain Telecommunications Co. (Batelco) in the first six months of 2000, soared 25 percent to 27.7 million dinars (72.6 million dollars) from the same period last year, a newspaper reported Tuesday.
Total revenues also increased, by 10 percent to 73.1 million dinars (191.5 million dollars), the Gulf Daily News said.
Batelco, which has a monopoly on telecommunications in the Gulf archipelago state, said profits were due to rising demand for new lines, Internet and pre-paid cards.
The company has also reduced tariffs applied to Internet data communications and integrated messaging services, as well as cutting charges on international telephone calls for the fifth time in the past three years.
Mobile phone users rose to 24 percent of the 650,000 population, largely due to the SimSim prepaid service, which celebrated its 100,000th customer in June, it said.
The government has a 39 percent stake in Batelco, with Britain's Cable and Wireless holding 20 percent and the remaining 41 percent publicly traded - MANAMA (AFP)
© 2000 Al Bawaba (www.albawaba.com)