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Kuwait’s Zain Posts Slight Decline In Q2 Net Profit, Meets Expectations

Kuwait’s Zain Posts Slight Decline In Q2 Net Profit, Meets Expectations

The former monopoly made a net profit of KD59 million ($209 million) in the three months to June 30.

Zain, Kuwait’s No.1 telecom operator by subscribers, reported a two per cent decline in second-quarter net profit on Wednesday, matching analysts’ estimates.

The former monopoly, which operates in eight countries in the Middle East and Africa, made a net profit of KD59 million ($209 million) in the three months to June 30, down from KD60.65 million in the year-earlier period.

Analysts polled by Reuters on average forecast Zain would make a quarterly profit of KD59.22 million.

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