Mubasher: Kuwait Telecommunication Co (Viva) posted a slight decline of 0.3% in profits during the first quarter of 2018 compared to the same period a year ago.
Earnings decreased to KWD 11.57 million ($38.42 million) in Q1-18 from KWD 11.6 million ($38.51 million) in Q1-17, according to a bourse statement on Thursday.
The decline in Q1 profits is attributed to market competence in spite of registering higher revenues, however, Viva maintained its share profitability at 23 fils.
At the stock level, Viva closed Thursday’s session at 703 fils.
