(MENAFN- Khaleej Times) A rapidly-increasing customer base helped mobile operator Viva Kuwait make an annual profit for the first time in 2012, four years after the Saudi Telecom Co affiliate launched its services.
Unlisted Viva reported a net profit of KD3.9 million ($13.69 million) for last year. This compares with a net loss of KD14.4 million in 2011, according to a statement on its Web site.
The operator, which competes with Zain and Ooredoo (Qatar Telecom) subsidiary Wataniya, said its customer base rose by 60 per cent to 1.6 million last year, enabling it to boost its market share to 29 per cent from 20 per cent.
Its 2012 cash flow was KD32.2 million, up from KD72,000 a year earlier. It did not publish its annual revenue.
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