Viva Kuwait reports net profit of KWD40m in 2016

30 Jan 2017

Kuwait Telecom Company (Viva), which was listed on the Kuwait Stock Exchange (KSE) in December 2014, has reported net profit of KWD40 million (USD130.9 million) for the twelve months ended 31 December 2016, down by 7.0% year-on-year from the KWD43 million reported in the corresponding period of 2015. The Kuwaiti company disclosed that its revenues amounted to KWD279 million in 2016, marginally up by 0.7% y-o-y, while its customer base reached 2.4 million, unchanged y-o-y.

Viva’s Chairman Mahmoud Ahmed Abdulrahman commented: ‘Despite the high competition witnessed in the Kuwaiti telecoms market, Viva was able to achieve growth in revenues, good profitability levels, in addition to sustain the operational efficiency that led to generating positive return to our shareholders during 2016.’

Kuwait, STC Kuwait (formerly Viva)