Wataniya Telecom's profit surges in Q4

Profits and revenue up following stake increase in Tunisiana
Wataniya Telecom is majority owned by Qatar's Qtel Group.
Wataniya Telecom is majority owned by Qatar's Qtel Group.


Kuwait’s Wataniya Telecom said that its Q4 2011 net profit increased by 57% compared to the same period in 2010, to KD38.2 million ($137.4m), according to Reuters.

The telco, which is majority-owned by Qatar’s Qtel Group, increased its revenue to KD186.4 million in the fourth quarter, up from KD138.7 million in Q4 2010.

Wataniya’s results were buoyed by its acquisition last year of an additional stake in Tunisian mobile operator, Tunisiana. Wataniya raised its stake in the Tunisian operator to 75%, allowing it to consolidate 100% of Tunisiana's revenue from the Q1 of 2011 onwards, up from 50%, Reuters reported. Wataniya’s results also now includes three-quarters of Tunisiana's profit, also up from 50%

Wataniya, which has operations in Kuwait, Tunisia, Algeria, Saudi Arabia, Maldives and the Palestinian territories, saw its consolidated customer base rise by 7.4% in Q4 2011 to reach 17.8 million.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story