Kuwait – Mubasher: Kuwaiti telecommunication companies reported a 1.8% increase in their net profits in the second quarter of 2016 ending on 30 June 2016.
The four telecom companies, VIVA, Zain, Ooredoo and Hits Telecom, achieved KWD 64.26 million ($212.54 million) in Q2-16 compared to KWD 63.11 million ($208.74 million) in Q2-15.
Mobile Telecommunications Co. (Zain) reported a 14% increase in net profits in the second quarter of 2016, to KWD 45 million ($148 million) from KWD 39.24 million ($129.69 million) in Q2-15.
Kuwait Telecommunications Co. (Viva) posted a decrease of 15% in profits to KWD 9.57 million ($31.6 million) in Q2-16 from KWD 11.22 million ($37 million) in Q2-15.
The four companies posted KWD 121.7 million profits in the six-month period of 2016 compared to KWD 117.25 million in the year-ago period, rising 3.79%.
