Manama: Batelco Group (Ticker: BATELCO), the regional Telecommunications Group with operations across 14 countries, said its profits were up 13% over 2013 to BD49.3 million in 2014.
The Group announced its results for the twelve-months ended 31 December 2014. Revenues and EBITDA were positively boosted by the Group’s Island Portfolio with its results consolidated for a full year in 2014 compared with only nine months in 2013. Group’s subscriber base grew by 6% year on year to over 9.5 million at end of 2014 while gross revenues reached of BD389.7million ($1.033.7million) for the year, an increase of 5% YoY basis.
The EBITDA of BD144.7million (US$383.8million) representing a 37% margin for the full year, an increase of 20% YoY as markets outside of Bahrain contribute 58% of revenues and 55% of EBITDA.
The board recommended dividends of BD41.58million ($110.29million) for the full year, equivalent to 25 fils per share, marking the Group’s ongoing ability to deliver strong value and returns to shareholders; and substantial cash and bank balances of BD150.2million ($398.4million).