Wednesday 15 February 2012

UPDATE 1-Kuwait telco Wataniya Q4 profit rises 57 pct | Agricultural Commodities | Reuters

Kuwait's Wataniya on Wednesday reported a 57 percent rise in its fourth-quarter net profit as the telecoms operator included more consolidated earnings from its Tunisian unit.

Wataniya, majority-owned by Qatar Telecom (Qtel), made a net profit of 38.2 million dinars ($137.4 million) in the fourth quarter, compared with a profit of 24.3 million dinars in the same period a year earlier.

In 2011, Wataniya raised its stake in its unit Tunisiana to 75 percent. This enabled Wataniya to consolidate 100 percent of Tunisiana's revenue from the first-quarter of 2011 onwards, up from 50 percent, while it now includes three-quarters of Tunisiana's profit, also up from 50 percent.

No comments:

Post a Comment