Viva Kuwait 2Q16 earnings drop 15% Y-o-Y on high operating expenses
Viva Kuwait [VIVA.KW] released 2Q16 headline figures, with earnings coming in at KWD9.6mn, dropping 15% Y-o-Y, 2% Q-o-Q and in line with Bloomberg’s consensus estimate. The annual drop in earnings is despite a 2% Y-o-Y increase in top-line and may have stemmed from rising operating costs as operating profit decline 24% Y-o-Y to stand at KWD9.8mn. (Company disclosure)
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