Wataniya full year 2008 profit up but 4Q profit slides

12 Feb 2009

Wataniya, Kuwait’s second largest mobile operator by subscribers, reported a 2.1% percent increase in full year 2008 profit at KWD82.4 million (USD284 million), up from KWD80.7 million in 2007. However, fourth quarter 2008 profit fell 33.3% to KWD14.2 million from KWD21.3 million in the same period twelve months previously. The operator’s net profit for the preceding third quarter to 30 September 2008 had risen 64% year-on-year to KWD25.6 million.

Qatar Telecom holds a majority stake in the company which operates in Kuwait, Algeria (Nedjma), Saudi Arabia (Bravo), Tunisia (Tunisiana), Maldives (Wataniya Telecom Maldives) and Palestine (Wataniya Palestine Telecom). The Kuwaiti government retains about 25% of the company.

Kuwait, Ooredoo Kuwait