Shares in Zain #Kuwait rally as Q2 profit rises | ZAWYA MENA Edition

Shares in Zain Kuwait rally as Q2 profit rises | ZAWYA MENA Edition:

Zain Kuwait reported a rise in Q2 2019 net profit, triggering a rally in the company’s shares.

The telecom provider’s net profit attributable to shareholders amounted to 50.2 million Kuwaiti dinars ($164.72 million), compared to 45.6 million dinars in Q2 2018, a 10.09 percent increase. Its total operating revenue for the quarter amounted to 406.6 million dinars, compared to 244.3 million dinars in the same period last year, a 66.43 percent increase.

Zain Kuwait’s shares rose 1.56 percent to 587 fils on Thursday at 13:45 GST and have added 30.96 percent since the start of 2019.