DUBAI, April 29 (Reuters) – Bahrain Telecommunications Co
(Batelco) posted a 2 percent fall in first-quarter
profit on Wednesday.

Batelco, whose former chief executive Alan Whelan left in
February after less than a year at the helm, made a net profit
of 14.2 million dinars in three months to March 31, down from
14.5 million dinars in the year-earlier period.

SICO Bahrain forecast Batelco would make a quarterly profit
of 14 million dinars.

Batelco’s first-quarter revenue was 93.7 million dinars,
down 4 percent year-on-year, it said in a statement.

The former monopoly had turned its earnings around, posting
rising profits in four of the previous six quarters since its
acquisition of most of the islands division of Cable Wireless
.

Before that deal, Batelco’s profits fell in 16 of 18
quarters to the three months ending June 30, 2013.

(Reporting by Matt Smith; Editing by Olzhas Auyezov)