The holder of Kuwait's second mobile phone licence had a poor first three months of 2008 when its net profits fell to KD13.8m, down 44 per cent on net profits of KD24.5m in the same period of 2007.
Qtel bought a 51 per cent controlling stake in Wataniya in March 2007.
Wataniya's improved financial performance was led by its Tunisian operation, Tunisiana, which increased net profits by 69 per cent to KD6m for the first half of the year.
Net profits at the core Kuwaiti business fell 17 per cent to KD41m in the first half of 2008, down from KD49m in the same period of 2007.
Wataniya's Kuwaiti revenues increased 10 per cent from KD102m in the first half of 2007 to KD112m between January and June.
You might also like...
Amiral cogen eyes financial close
26 April 2024
Lunate acquires 40% stake in Adnoc Oil Pipelines
26 April 2024
Saudi Arabia's Rawabi Holding raises SR1.2bn in sukuk
26 April 2024
Iraq oil project reaches 70% completion
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.