Companies / Kuwait
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MTC Boasts Better Financial Results
May 2006 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Kuwait-based Mobile Telecommunications Company (MTC) has reported strong revenue growth for Q106, up by 144% y-o-y to US$751.08mn (KWD219.62mn), with net profits of US$199.40mn (KWD58.31mn), up by 42% y-o-y. A sizeable proportion of the operator's revenues derived from its pan-African unit Celtel, which operates in 13 countries, and reported revenues of US$312.96mn, contributing 41.5% to its overall group revenues. Moreover, Celtel contributes to 50% of the group's subscriber base, which stood at 15.627mn users, up by 348% y-o-y.