Al-Babtain expects 15-percent profit growth on market expansions

Al-Babtain Power & Telecommunication Co, a maker of telecom and electricity transmission  and distribution towers, said it expects profit and revenue to grow 15 percent and 25 percent, respectively, this year on its expansion into new markets.

Profit projection is expected to be SAR 117 million or (SAR 2.75 a share), while revenues are expected to reach SAR 1.5 billion this year, the company said in a report.

Al-Babtain’s profit declined 7 percent to SAR 102.4 million, or SAR 2.40 a share, last year on recorded SAR 110 million in provisions for Al-Batain France SAS.

 The company added that the restructuring of its France-based unit is likely to be completed by the end of this year, and that it is already booking overheads for the project.