Kuwait-Mubasher: Viva posted a decrease of 15% in profits of the second quarter of 2016 as compared to the same period in the previous year.
Earnings shrank to KWD 9.57 million ($31.6 million) in Q2-16 from KWD 11.21 million ($37 million) in Q2-15, according to a bourse statement issued Thursday.
During the first half of 2016, the leading telecom company’s profits shrank by 10.2% to KWD 19.39 million versus KWD 21.58 million in H1-15.
The decline in earnings resulted from lower revenues amid the “sluggish in Kuwait economy”, according to the bourse statement.
