Viva 4Q16 net income increases 6% Y-o-Y and 11% Q-o-Q; Board recommends KWD0.01 DPS
Viva [VIVA.KW] released its 4Q16 headline figures, showing earnings of KWD10.8mn, up 6% Y-o-Y and 11% Q-o-Q, despite a 6% Y-o-Y and 3% Q-o-Q drop in top line which came in at KWD68mn. The growth in profit was most likely driven by better profitability as net operating profit totalled KWD12mn rising by 8% Y-o-Y and 11% Q-o-Q. The board recommended the distribution of KWD0.01 as DPS. (Company disclosure)
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