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Batelco achieves net profit attributable to equity holders

Batelco achieves net profit attributable to equity holders

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Bahrain-based telecoms provider Batelco, has announced net profit attributable to equity holders of the company for Q4 2020 of 6.5 million Bahraini dinar (US$17.2 million), a 12% decrease from 7.4 million Bahraini dinar (US$19.6M) for the corresponding period of 2019.

However, net profits attributable to equity holders of the company for the full year 2020 of 56.7 million Bahraini dinar (US$150.4 million) have increased by 10% from 51.6 million Bahraini dinar (US$136.9 million) for 2019. The increase in net profit is mainly attributable to the 10% YoY decrease in operating costs which reflects Batelco’s successful cost containment programmes.

 Earnings per share (EPS) are 3.9 fils for the fourth quarter of 2020 compared to 4.5 fils in Q4 2019 resulting in an EPS of 34.2 fils for the year compared to an EPS of 31.2 for 2019.

Batelco’s balance sheet remains strong with total equity attributable to equity holders of the company of 473.2 million Bahraini dinar (US$1,255.2 milliom) in line with 473.1 million Bahraini dinar (US$1,254.9 millio) reported as of 31 December 2019. Total assets of 992.2 million Bahraini dinar (US$2,631.8 million) as of December 31, 2020 are also in line with total assets of 992.9 million Bahraini dinar (US$2,633.7M ) as of December 31, 2019.

The company’s cash and bank balances are a substantial 195.3 million Bahraini dinar (US$518.0 million), which reflects the 2020 interim dividend of 13.5 fils per share paid in August 2020.

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