DUBAI: Wataniya, Kuwait’s No.2 telecom operator, reported a slight drop in third-quarter profit yesterday, missing analysts’ estimates as the company’s under-performance continued.
The firm, a subsidiary of Ooredoo, had reported declining profits in six of the preceding seven quarters and in March it appointed Abdulaziz Fakhroo as chief executive, its third CEO in less than a year.
Wataniya made a net profit of 15.34m dinars ($54.43m)in the three months to September 30, down from 15.53m dinars in the year-earlier period, according to a statement to the Kuwaiti bourse.
Wataniya made a net profit of 57.7m dinars in the first nine months of 2013, down from 62.9m for the same period a year earlier.
Reuters
