Growth slows at Wataniya

Kuwaiti cellular operator Wataniya has reported a 2.9% increase in second quarter net profit to KWD18 million (USD67 million), the lowest quarterly profit growth in over a year. First half net profits were up 52.3% to KWD43.7 million, with full-year growth expected to be between 20% and 25%. A full earnings statement is due to be released later this week. Wataniya is owned by Qtel of Qatar and is active in Kuwait, Iraq, Tunisia, Saudi Arabia, Algeria and the Maldives.