Business as usual at Batelco

"It's business as usual," said Batelco's Chief Executive Officer Mr. Peter Kaliaropoulos.

"The Batelco executive team remains focused on the fundamentals - improving our customers' experience, delivering better value, being innovative, reducing operating costs and pursuing profitable growth."

Batelco has entered the network and systems integration market in Bahrain, is expanding its operations in Jordan and Kuwait and actively looking for new acquisitions and licenses in the Middle East and African region.

Whilst Batelco's relationship with Cable & Wireless dates back to the beginning of telecommunications in Bahrain, today only five C&W employees are seconded to non executive roles, amongst Batelco's 2100 strong workforce across the region.

Batelco is transforming into one of the most competitive and best performing companies in the region. The Company's success in the market place, the most liberalised market in the Middle East, has been reflected on the balance sheets.

Mr. Kaliaropoulos noted that Batelco posted excellent results for the year ended December 2005. Net profits, being 41 per cent of revenue, climbed 6 per cent to BD87.5 million ($218m) with gross revenue of BD211.6 million ($529m), a year-on-year rise of 4 per cent. Earnings per share grew to 88 fills, the best result ever.

"Whilst we respect the wishes of our shareholders, the management and staff continue to focus on what creates lasting value - winning and retaining our customers and profitably growing."

Today, Batelco is a mainstay of the Kingdom's national economy and internationally recognised by global competitors.