Wataniya telecom announces Q1 profit of KD 285 mln

Wataniya telecom Sunday announced its first quarter profit for 2011 at KD 285.1 million, at 568.9 fils per share compared to 2010's profit of KD 16.2 million and 32.3 fils per share for the same period. A company statement, accessible through the Kuwait Stock Exchange (KSE) website, said shareholder equity came to KD 831.9 million, compared to last year's KD 497.8 million. Total assets were reported at KD 1.4 billion, with liabilities at KD 599.6 million, compared to liabilities of KD 409.7 million last year. The company was founded in 1997 and listed with KSE in 1999, with paid up capital of KD 50.4 million. It is authorized to operate in the fields of mobile telecommunications, paging systems, and investment of surplus in financial portfolios managed by other specialized parties. From Kuwait News agency