Kuwait Zain Q2 net falls 21 p.c.

KUWAIT: Kuwaiti mobile operator Zain posted a 21 per cent lower second-quarter net profit of 70.3 million dinars ($257.3 million), according to Reuters calculations, missing analyst estimates.

Net profit in the six months to June 30 came in at 140.2 million dinars, Zain said in a statement.

Analysts surveyed by Reuters had expected the firm to post an average second quarter net profit of 87.4 million dinars.

The company had made a net profit of 89.4 million dinars, excluding gains from the sale of its assets in Africa to Bharti Airtel.