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Ooredoo Kuwait Q3 profit falls by nearly half [Cihan News Agency (Turkey)](Cihan News Agency (Turkey) Via Acquire Media NewsEdge) Ooredoo Kuwait, the country's No.3 telecom operator by subscribers, said on Wednesday that its third-quarter net profit fell by nearly half. The firm, a subsidiary of Qatar's Ooredoo, made a net profit of 7.9 million dinars ($27.3 million) in the three months to Sept. 30, down from 15.3 million dinars in the year-earlier period. An analyst at EFG Hermes forecast Wataniya would make a quarterly profit of 23.4 million dinars. Third-quarter revenue was 186 million dinars, up slightly from the 180 million dinars generated a year ago. Domestically, Ooredoo Kuwait competes with Zain and third entrant Viva, an affiliate of Saudi Telecom Co . Ooredoo Kuwait has slipped to third in terms of mobile subscribers, according to Zain, as Viva's aggressive pricing wooed customers. That sparked a sustained profit slide at Ooredoo Kuwait, which also has operations in Algeria, Tunisia, the Maldives and the Palestinian Territories. (c) 2014 Cihan News Agency. All right reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |