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FINANCIAL NEWS
Kuwait- Wataniya’s 2012 profit falls to USD268.5m
25 Mar 2013
(MENAFN) Kuwait’s Wataniya Telecom’s Board Chairman, Sheikh Abdullah Bin Mohammed Al Thani, stated that the company’s net profits reached USD268.5 million last year, down from USD362.1 million in 2011, reported Arab Times.
Sheikh Abdullah said that the telecom giant’s overall revenues rose by 2.2 percent to USD2.64 billion, compared with USD2.58 billion a year before.
Meanwhile, consolidated net profit declined from USD1.29 billion in 2011 to USD268.5 million, whereas earnings before interest, taxes, depreciation and amortization (EBITDA) fell to USD1.06 billion from the USD1.12 billion posted a year earlier.
It is worth noting that Wataniya’s total customer base went up by 7.8 percent to 19.2 million, compared with 17.8 million in 2011.
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