Wataniya to break even this year - Emirates24|7

Wataniya to break even this year


Kuwait's National Mobile Telecommunications Co (Wataniya) said it expects to break even in Algeria this year for the first time after four years of operation and sees "big" potential in the country.

"Algeria is one of the markets that has the biggest potential ... I believe it is turning profitable in 2008," Scott Gegenheimer said in his first interview since becoming Chief Executive Officer in January of the Qatar Telecommunications Co unit.

Revenue from Algerian operations -- which have been losing money since 2004 -- rose 38 per cent to 101.7 million dinars ($380.9 million) last year, company data showed. The company lost 9.7 million dinars in Algeria last year, compared with 11.9 million dinars the year before, when it had 4.5 million users.

Wataniya also operates in Tunisia, Saudi Arabia and the Maldives. (Reuters)