Wednesday, May 02, 2012
DUBAI (Zawya Dow Jones)--The chief financial officer of Bahrain Telecommunications Co., or Batelco Group, has stepped down, the company said Wednesday.
Kataryna Stapleton has stepped down as CFO of the group effective May 1, a spokesperson for Batelco told Zawya Dow Jones in an email.
Batelco last week said it will focus on growing its customer base and scale in the Middle East and North Africa region, after the Gulf Arab state's biggest telco posted an 8% drop in first quarter net profit that missed most expectations as mobile subscribers fell.
The company made a net profit of 16.1 million Bahraini dinars ($42.7 million) during the first three months of the year, down from BHD17.5 million a year earlier.
Batelco shares closed flat at BHD0.46 Wednesday.
-By Shereen El Gazzar, Dow Jones Newswires, +9714 446 1684 Shereen.elgazzar@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
02-05-12 1249GMT
