Mubasher: The customer base of National Mobile Telecommunications (Ooredoo) has increased by 4% to reach 2.3 million subscribers in Kuwait during fiscal year 2018, chairman of Ooredoo Saoud bin Nasser Al Thani said.

He noted that Ooredoo’s revenues in Kuwait rose by 8% to KWD 240.9 million in FY18 compared to KWD 222.7 million in FY17, according to a recent statement.

Ooredoo Kuwait has recorded good financial growth, in terms of local currency, in FY18 despite the negative impact of currency fluctuations on the company’s consolidated income statements, the chairman added.

Ooredoo Kuwait’s earnings before interest, tax, depreciation, and amortisation (EBITDA) increased to KWD 55 million in FY18 from KWD 54.3 million in the prior year, bin Nasser Al Thani said.

Early on Sunday, Ooredoo disclosed its FY18 income statements with a decline of 24.9% in profits to KWD 29.71 million from KWD 39.54 million in FY17, with a recommendation of 50% cash dividends.