MTC gains 80,000 Iraqi customers in third quarter

9 Nov 2004

Kuwait-based Mobile Telecommunications (MTC) said on Monday that its Iraqi wireless arm Atheer Iraq signed up around 80,000 new subscribers in the three months to 30 September, taking its total customers in Iraq to over 140,000, a rise of 125% in the quarter. MTC has a total of 2.84 million mobile subscribers across its Middle Eastern networks, including 1.1 million in Kuwait, 1.08 million via its Fastlink subsidiary in Jordan, 76,500 in Bahrain (MTC Vodafone) and 425,500 in Lebanon (MTC Libon).

MTC reported consolidated revenues of KWD84.15 million (USD286.9 million) for the third quarter, lifting turnover for the first nine months of 2004 to KWD236.8 million, a 22% rise on the corresponding period of 2003. In the same period net income reached KWD89.47 million, of which KWD29.44 million was generated in Q3.

Iraq, Kuwait, Zain Iraq, Zain Kuwait