Zain, Kuwait's biggest telecom operator by subscribers, reported flat second-quarter profits on Sunday.
The former monopoly, which operates in eight countries in the Middle East and Africa, made a net profit of 44 million Kuwaiti dinars (Dh535.1m) in the three months to June 30, it said. That compared with a profit of 44.7m dinars in the year period last year.
EFG Hermes had forecast a net profit of 39.8m dinars, while SICO Bahrain forecast a net profit of 36.7m dinars.
Zain said foreign currency conversions, mainly in Sudan, had cost the company US$58m in the first six months of 2017.
Second-quarter revenue was 261m dinars, down from 274.9m dinars a year ago.
In Kuwait, Zain competitors include Viva, an affiliate of Saudi Telecom Co.
Zain said in December it was in talks to sell its mobile transmitter towers to a consortium comprised of TASC SAL and ACWA Holding.
* Reuters
Sreesanth's India bowling career
Tests 27, Wickets 87, Average 37.59, Best 5-40
ODIs 53, Wickets 75, Average 33.44, Best 6-55
T20Is 10, Wickets 7, Average 41.14, Best 2-12
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
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