Bahrain-based telecommunications group Batelco – the parent company of Channel Islands operator Sure – has announced its half-year results to 30 June.
Key points for Batelco include:
• Gross revenues of BD181.1 million (US$480.4 million) – one per cent down on the same period in 2016
• EBITDA of BD64.0 million (US$169.8 million) – a 10 per cent decline year on year, but representing a margin of 35 per cent
• Consolidated net profit of BD19.0 million (US$50.4 million) – a 16 per cent decline on the same period in 2016
Chairman Shaikh Mohamed bin Khalifa Al Khalifa commented: "Batelco continues to be immersed in a lengthy period of harsh competitive pressure, and the impact of this is reflected in the group’s financial results."
Chief Executive Ihab Hinnawi highlighted the importance of Batelco’s affiliates and subsidiaries transforming their operations by digitising their touch points and internal processes.
Its results announcement included a summary of Sure’s achievements: 'Sure has continued to invest in mobile networks, with the rollout of LTE Advanced across the Channel Islands and Isle of Man.
'In addition, Sure’s fibre footprint continues to grow on the Isle of Man and undersea, with a new dense wavelength division multiplexing network linking Sure’s Jersey and Guernsey data centres.
'Pre-paid subscriber growth has been pleasing in this quarter, whilst the post-paid subscriber base has been maintained. There has been a six per cent increase in broadband subscribers, accompanied by a two per cent growth in average revenue per line.
'Fixed voice line services have also seen steady growth with an 11 per cent increase in subscribers across the Sure group.'