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Batelco posts 18.6% fall in Q4 profit

Bahrain's Batelco has said its fourth quarter net profits fell 18.6% to BD20.81m ($55.21m) from BD25.56m in the year-earlier quarter, Reuters has reported. Full-year profit also fell by 17.4% to BD86.8m from 2009. Acquisitions are high on Batelco's agenda in 2011 but the telecoms firm is not considering buying new licences, chief executive Peter Kaliaropoulos said. "To realise further growth and diversify our revenues, we need to increase our scale and invest in companies that are already established but still offer growth in their markets," he said.