CWC.L Share News (CWC)

DUBAI, July 30 (Reuters) - Bahrain Telecommunications Co (Batelco) posted a 22 percent fall in net profit inthe first half of the year weighed down by one-off expensesrelated to acquisitions and related financing, it said in astatement on Tuesday.

The former monopoly, which has reported declining profits inpast several quarters, said first-half net profit fell to $71.6million compared with $91.8 million for the same period lastyear.

"Profits for the period were impacted by a number of one offexpenses associated with the acquisition and related financing,"Batelco said in the statement.

The operator, seeking to offset declining domestic profitand revenue, in April completed the $570 million purchase ofCable & Wireless Communications' Monaco and IslandsDivision.

Batelco competes with units of Kuwait's Zain andSaudi Telecom Co in Bahrain, while it also ownsJordanian telecoms operator Umniah, 27 percent of Yemeni mobileoperator Sabafon, minority stakes in internet providers inKuwait and Saudi Arabia and is also active in Egypt.

The telco said its board approved an interim dividend of 10fils per share.