FINANCIAL NEWS

Zain Kuwait reports flat second-quarter profit

07 Aug 2017

(MENAFN) Zain, Kuwait’s largest telecom operator by subscribers posted flat second-quarter profits, while it made a net profit of USD146mn in the three months to June 30.

Furthermore, EFG Hermes had predicted a net profit of 39.87mn dinars, whereas SICO Bahrain predicts a net profit of 36.75mn dinars.

Accordingly, foreign currency conversions, mainly in Sudan, had cost the firm USD58mn in the Jan-June period of this year.

The firm is also trying to sell its transmitter towers in KSA and Zain Saudi, 37 percent-owned by Zain Group.

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MENAFN0708201700450000ID1095701191

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