Bahrain Telecommunications, the state-owned operator known as Batelco, reported a 13 per cent decline in second-quarter profit as it faced fierce competition in a stagnating market.
Net income at the former monopoly fell to 18.5 million Bahraini dinars (Dh180.2m) in the quarter, from 21.3m dinars a year ago. The company has reported declining profits in seven out of eight quarters. "In our home market, Bahrain, we continue to face significant competition from other operators coupled with lack of any significant growth," Batelco's chairman Shaikh Hamad bin Abdulla Al Khalifa said.
"As a priority, we are implementing various initiatives to improve efficiencies, lower our operating cost structure and be more responsive to our customers with a full service portfolio."
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