Wataniya: Q4 net profit down, FY up

2 Mar 2010

Kuwait-based National Mobile Telecommunications Company (Wataniya) has posted net profit of KWD11 million (USD37.9 million) for the fourth quarter of 2009, down 22.5% year-on-year from KWD14.2 million in 4Q08. However, the company told the Kuwaiti bourse that its full year net profit was up to KWD108.3 million in 2009, from KWD82.4 million in 2008. Wataniya – which operates in markets including Algeria, Tunisia, Saudi Arabia and the Maldives – did not give a reason behind its declining bottom line. Parent company Qatar Telecom (QTel) is expected to release its preliminary results for the full year 2009 tomorrow with a full disclosure scheduled for 7 March.

Kuwait, Ooredoo Group, Ooredoo Kuwait