MTC sees 49% jump in 1H revenues

Kuwait’s MTC Group has reported consolidated revenues of KWD799.5 million (USD2.77 billion) for the first half of 2007, up 49% year-on-year. EBITDA grew 36% to KWD343 million, while net income reached KWD149 million, up 13% from 1H-2007. The firm, which has cellular operations across the Middle East and Africa, claimed 32.15 million customers at the end of June, up from 29.67 million three months earlier. Dr Saad Al Barrak, CEO of MTC Group, said: ‘Our aspirations of being a top-ten global operator by 2011 are well on target.’