DUBAI: Wataniya, Kuwait’s No.2 telecom operator, reported a 46 percent jump in fourth-quarter profit yesterday.
Wataniya made a net profit of KD18.4m ($65.3m) in the three months to December 31, up from KD12.6m in the year-earlier period. Reuters calculated the figure based on financial statements.
The result beat the forecast of an analyst at EFG Hermes, who had expected a net profit of KD13.5m for the period.
The firm, a subsidiary of Qatar’s Ooredoo, had reported declining profits in the six of the eight preceding quarters and last March it appointed Abdulaziz Fakhroo as chief executive, its third CEO in less than a year.
Wataniya’s full-year profit was KD76.1m, up slightly from KD75.5m in 2012, according to a bourse filing in Kuwait.
Reuters
