MTC 3Q profit up 52%

Kuwait-based MTC Group reported revenues of USD1.355 billion for the nine months to the end of September, up 67.3% year-on-year. Net profit for the third quarter stood at USD466.6 million, a rise of 52.4% on the previous year as subscriber numbers for the group reached 12.45 million, up 339% year-on-year. MTC has manages networks in Kuwait, Jordan, Iraq, Bahrain, Lebanon and 13 African countries, which it added as a result of its purchase of Celtel International earlier this year.