Wataniya Telecom suffers 11% fall in net income in H113

Wataniya Telecom has reported that its customer base grew by 7.2 per cent over the past year to reach 19.6 million at the end of June.

First-half revenues amounted to KWD378.9 million (US$1.33 billion), up 2.9 per cent year-on-year.

Net profit for H1 fell by 11 per cent to KWD 42.4 million, and was put down to a highly competitive Kuwaiti market and the Tunisian operation, which has been affected by a still difficult economic situation and tax claims.

Wataniya Kuwait’s customer base was basically flat year-on-year at 1.94 million, while revenues fell by 8.4 per cent to KWD 104.6 million. Net profit more than halved to KWD 13.5 million, compared to KWD 29.1 million a year ago.