Wataniya rings record performance

Regional mobile network operator Wataniya Telecom has announced a massive cash dividend of 80%, as well as 5% bonus shares to its shareholders. The move follows increased annual profits of US$182 million, and an increase in its regional customer base of 141% in 2005.

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By  Andrew White Published  April 9, 2006

Regional mobile network operator Wataniya Telecom has announced a massive cash dividend of 80%, as well as 5% bonus shares to its shareholders. The move follows increased annual profits of US$182 million, and an increase in its regional customer base of 141% in 2005. The firm, which serves over seven million customers, has seen consistent and strong growth in each of its operations, reflected in a consolidated net profit increase of over 30% from 2004 to 2005. Wataniya currently manages investments and operations in Kuwait, Tunisia, Iraq, Algeria, the Maldives and Saudi Arabia. “We have an enviable track record of sound and prudent investments in the region’s high growth mobile communications markets, and have consistently and quietly built a profitable business, which for us demonstrates that our approach is working,” said Wataniya International CEO, Ahmad Haleem. “Wataniya Telecom has seen expansion in its regional operations, consistently outperforming market norms, with major network expansion and growth in each of the markets where we have a presence,” he continued. “That growth is set to continue in the coming year, and we will be aiming to drive investment into new markets as well.” The firm also took the opportunity to launch a new corporate tagline, ‘One New World. In One’, and is set to launch a regional corporate branding push based upon its new innovation platform. The platform will include a corporate web site, and an advertising campaign to drive awareness of the company as an investor, operator and manager of mobile communications businesses. “The Wataniya Telecom One New World. In One unique selling proposition is an affirmation of our commitment to a single device that opens up the potential for people at work or play,” said Sylvie Scott, chief commercial officer of Wataniya International. “The mobile telephone is becoming a powerful platform for convergence, and we are committed to being at the forefront of that convergence.” Commercially launched in December 1999, Wataniya Telecom is part of Kuwait Projects Company, and has been a driving force in increasing the mobile communications market in Kuwait to more than 90% of the population. The firm – Kuwait’s first privately owned operator - manages a growing portfolio of content-rich services across the entire spectrum of the mobile lifestyle. It recently signed an agreement with mobile giant Nokia, and offers services catering to leisure, businesses, games and travel information, through strategic partnerships with content providers such as Rotana, Yahoo!, CNN.com and Time Out magazine.

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