Wataniya sees net profit slip in Q3

Kuwaiti mobile operator Wataniya Telecom has reported net profit of KWD18.5 million (USD64.4 million) for the three months ended 30 September, down 27.7% from KWD25.6 million a year earlier. The company, which owns operations in Algeria, Tunisia, Saudi Arabia and the Maldives, did not give a reason for the decline in its results. Profit for the year to date, however, grew year-on-year, up from KWD68.18 million for the first nine months of 2008, to KWD97.32 million. Wataniya’s total assets were valued at KWD875.4 million in the first nine months of 2009, down from KWD924.3 million in the same period a year earlier.