Mubasher: Kuwait Telecommunication Co (Viva) achieved an increase of 51% in profits during the second quarter of 2018 compared to the same period in the prior year.
Viva recorded KWD 12.22 million ($40.39 million) earnings in Q2-18 from KWD 8.07 million ($26.68 million) in Q2-17, according to a bourse statement on Monday.
During the first half of 2018, Viva posted an incline of 21% in profits to KWD 23 million when compared to KWD 19.67 million in H1-17.
Viva noted that the growth in H1 profits is attributed to higher revenues, with net operating income growing 18% to KWD 24.8 million.
At the stock level, Viva closed Monday’s session 1.64% lower at 718 fils.
