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FINANCIAL NEWS
Kuwait’s Wataniya Q2 profit up by 18.7%
09 Aug 2011
(MENAFN) National Mobile Telecommunications’ Co (Wataniya) chairman, Sheikh Abdullah bin Mohammed Al-Thani, said that in the second quarter, Kuwait’s second-biggest mobile phone operator’s profit rose 18.7 percent, reported Arabian Business.
Al-Thani added that in the period, consolidated revenue surged 35.2 percent from 2010’s same quarter reaching USD665.6 million, whereas net profit grew to USD85.2 million from USD71 million a year ago.
He also said that revenue in Kuwait rose 15.4 percent whereas it went up 30.6 percent in Algeria through its unit there, Nedjma, where net profit reached USD27.8 million in the year’s first six months compared with a net attributable loss of USD3.5 million in 2010.
It is worth noting that at the end of June, total customer base went up 6.8 percent from 2010 reaching 16.9 million.
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