The financial statements of the National Mobile Telecommunications Company (Ooredoo - Kuwait) showed a jump in the company's profits in the first half of this year, with an increase of 320% year on year.
According to the company's results for the Kuwaiti Stock Exchange, today, Wednesday, the profits for the period amounted to about 6.965 million dinars, compared to profits of 1.660 million dinars in the first half of 2020.
The company said in the statement that the increase in profits during the comparison periods is due to the improvement in operational and financial revenues, as well as the continued focus on cost optimization.
The company's profits in the second quarter of this year amounted to about 5.985 million dinars, compared to losses for the same period in 2020, which amounted to only 64 dinars.
Consolidated revenues slightly increased to 294.7 million dinars in the first half of 2021, compared to 294.1 million dinars for the same period in 2020.
The company recorded an improvement in the EBITDA margin, which reached 36% during the period, despite the continuation of various restrictions and challenges related to the Corona pandemic.
