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Wataniya Telecom posts KWD11.1 million net profit in Q1 2006

9 May 2006

Wataniya Telecom (also known as National Mobile Telecommunications Company) has posted a consolidated net profit of KWD11.1 million (USD37.8 million) for the three month period ended 31 March 2006. Revenues for the first quarter increased to KWD105.8 million (USD 360.4 million), an increase of 7% compared to previous quarter revenues of KWD99.3 million, and an increase of 44% compared to the same period in 2005.

In its home market Wataniya Telecom increased its active customer base to 947,055. Revenues were KWD41.5 million (USD 141.4 million) compared to KWD36.3 million (USD123.7 million) in the same period of 2005. Net profit for the first quarter was KWD12.6 million (USD42.9 million). In Tunisia, Wataniya’s 50/50 joint venture with Orascom, Tunisiana, closed the period with 2.39 million customers, equivalent to a 44% market share, while in Iraq AsiaCell counted 2.04 million customers.

Kuwait, Ooredoo Algeria, Ooredoo Kuwait

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