Zain sees Q1 net profit close to 2008 level

Kuwait's Mobile Telecommunications Co sees first-quarter net profit to be close to $251m - paper.

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By  Ulf Laessing Published  April 2, 2009

Kuwait's Mobile Telecommunications Co (Zain) expects first-quarter net profit to be close to its year-ago level, its chief executive was quoted as saying by a newspaper on Thursday.

"[Chief Executive Saad] Al-Barrak confirmed first-quarter profit will be close to profit in the first quarter of 2008 which was at KD73.3m ($251m)," daily Al Watan said.

Another daily, Al Rai, also quoted Al Barrak as saying Kuwait's biggest mobile operator hopes first-quarter figures would be close to last year's levels.

Zain spokesman Ibrahim Adel declined to comment on the reports, saying only: "The first and second quarter will be difficult given the economic environment." (Reuters)

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