Revenue and profit down at Wataniya for Q3

Wataniya Telecom announced that its customer base grew by 4.3 per cent year-on-year for the quarter to end-September, but revenue during the period declined by nearly as much as customers grew.

The total customer base increased to 19.7 million at the end of Q3 2013, up from 18.8 million a year earlier, resulting in growth of 4.3 per cent.

Revenues for the quarter however fell by 3.4 per cent to KD184.5 million (US$655 million). Net profit for the quarter also fell, by 1.2 per cent to KD15.3 million.

Revenues declined the most in the company’s home market of Kuwait, where the customer base and revenue both shrank. All the other markets the company operates in saw improvements.