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.
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