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Viva's H1 net profits surge $71m

Trade Arabia

Viva, Kuwait’s fastest-growing telecom operator, has reported a net profit of KD21.6 million ($71.3 million) for the first half of the year, jumping 14 per cent compared to the same period last year.

Total revenues reached KD134 million ($442.5 million), growing 18 per cent when compared to KD113 million ($373.1) in H1 2014. Operational profit increased by 24 per cent, from KD20 million ($66 million) in H1 2014, to KD25 million ($82.5 million) in H1 2015.  

Dr Mahmoud Ahmad Abdul Rahman, Viva’s chairman, said: “The excellent financial results posted by Viva represent a major milestone in the company’s development, and reflect the many other record breaking achievements Viva consistently delivered over the course of the year.”

“This accomplishment is achieved by the hard work and dedication of Viva’s Board of Directors, senior management, and employees to maintain the highest professional standards in the workplace, while serving the best interests of the company and its valued customers. Our strong performance also reflected our efforts and devotion to achieving excellent results in Kuwait’s competitive telecom market,” he said.

“Viva’s strong financial performance reflects our customers’ increasing confidence in our services and the quality of our high-performance network. This growing confidence inspires us to continue our investments in developing and expanding our network capacity through leading edge telecom technology, as we strive to meet the needs and aspirations of our valued customers,” said Salman Bin Abdul Aziz Al-Badran, Viva’s chief executive officer.  – TradeArabia News Service

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