Batelco achieves net profit attributable to equity holders of BD56.7M, a 10% YoY increase

SourceBizbahrain
SectorFinancial Markets
CountrySaudi Arabia

Batelco announced net profit attributable to equity holders of the company for Q4 2020 of BD6.5M (US$17.2M), a 12% decrease from BD7.4M (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 BD56.7M (US$150.4M) have increased by 10% from BD51.6M (US$136.9M) 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 programs.  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. Total comprehensive income attributable to equity holders for Q4 2020 reported at BD10.5M (US$27.9M), a decrease of 24% from BD13.8M (US$36.6M) for the fourth quarter of 2019. Total comprehensive income attributable to equity holders of the company for the year is down by 5% from BD56.3M (US$149.3M) in 2019 to BD53.4M (US$141.6M) in 2020. Revenues for the fourth quarter in 2020 of BD101.6M (US$269.5M) decreased by 1% compared to BD102.9M (US$272.9M) in Q4 2019.  Similarly, revenues for the full year 2020 were ...read more...