Batelco AGM puts focus on year ahead

Batelco's outstanding performance for 2004 provided shareholders with plenty of good news and a full year cash dividend for shareholders of 50 fils per share, 20 fils having already been distributed as an interim dividend in August 2004. The company's results - which were officially announced last month - were set out in Batelco's published Annual Report. For the year ending 31st December 2004, Batelco announced a year-on-year rise in gross revenues of 6% to BD203.7 million. During the year, the company's net profits rose to BD82.6 million from BD60.7 million in the previous year. Earnings rose from 61 fils to 83 fils per share.

"These figures are outstanding by any standards; the fact that they were posted during the first year of competition in Bahrain's lucrative mobile sector illustrates Batelco's strength, depth and knowledge of its market and customers," said Hassan Juma, Chairman at Batelco.

"Batelco's performance this year is a very clear validation of our business strategy and comes as a direct result of the outstanding efforts and achievements of our management and employees," continued Mr Juma. "Careful planning, a clear strategy, hard work, determination, technical know-how, market knowledge and a desire to be the best have served us well - and will continue to benefit our customers and shareholders as we tackle the challenges of 2005."

During the year, Batelco has worked hard to ensure that priority is now placed on the 'Customer Service' and 'Sales and Marketing' functions, resulting in a company that is better able to provide its customers with the services they want and need. A raft of new contracts - both at home and abroad - go some way towards fulfilling Batelco's vision of expanding throughout the region. In addition, Batelco's management has invested wisely in new technologies so that the company's products and services remain at the forefront of global innovation.

"First and foremost among Batelco's accomplishments this year has been the loyalty of our customers," explains Tony Hart, Chief Executive at Batelco. "For the first time in history, our customers were given a choice in their telecoms provider - and they chose Batelco.

"As Bahrain's national telecommunications company, we can justifiably boast an unrivalled knowledge of our market. We also offer the market's best value-for-money services and products and can give our customers the world's most up-to-date technology," says Mr Hart. "But, most important of all, it has become clear over the past year or more that Batelco is privileged to have a workforce that is willing - time and again - to go the extra mile where our customers' needs are concerned."

Batelco's investment in the telecommunications needs of the country is not the only way that the company connects with the people of Bahrain. During this year, Batelco donated more than BD5 million to health, education, sports and charitable organizations that provide vital services to the community, improving life for everyone in the Kingdom.

In addition, the company's high profile sponsorships - such as the Bahrain International Circuit, the Bahrain National Football Team and League, Bahrain's National Basketball Team and the Bahrain Royal Equestrian and Endurance Federation are matched by a plethora of local community sponsorships designed to boost sport and culture at a grassroots level.

"Batelco has proved itself worthy and deserving of the title, Bahrain's national telecommunications company - from both a business and social perspective," says Mr Hart. "We are proud of the fact that we've tackled the rapid pace of change to our market with the introduction of competition - and come out stronger and better for the experience.

"The future will bring still greater challenges, but we are ready for them. Batelco now faces the future from a position of proven success, business prowess and moral strength."

The following members of the Board were elected as follow:
Mr. Hassan A. Juma (Chairman)
Sh. Mohamed bin Isa Al-Khalifa (First Deputy)
Mr. Roy Polley (Second Deputy)