Batelco Bahrain's earnings growth in the second quarter

Bahrain Telecommunications Company (Batelco) posted a net profit of K4.4 million for shareholders in the second quarter, compared to K $ 157 million a year earlier, Reuters reported.

Total sales reached KD 100.4 million in the second quarter, compared to KD 100.5 million a year earlier. Revenues for the first half amounted to K 201.7 million, an increase of 1% compared to the first half of 2018.

Second quarter net profit reflects an extraordinary gain of 27.2 million Swedish dinars from the sale of Batelco's 90% stake in Qualitynet. Net income for the second quarter was affected by a further decline of BD 20.3 million in Batelco's equity stake in Sabaafon (26.94%) held by Batelco.