Kuwait's Zain posts slight decline in Q2 net profit, meets expectations

DUBAI, July 16 Wed Jul 16, 2014 7:27am EDT

DUBAI, July 16 (Reuters) - Zain, Kuwait's No.1 telecom operator by subscribers, reported a 2 percent decline in second-quarter net profit on Wednesday, matching analysts' estimates.

The former monopoly, which operates in eight countries in the Middle East and Africa, made a net profit of 59 million dinars ($209 million) in the three months to June 30, down from 60.65 million dinars in the year-earlier period.

Analysts polled by Reuters on average forecast Zain would make a quarterly profit of 59.22 million dinars. ($1 = 0.2823 Kuwaiti Dinars) (Reporting by Nadia Saleem; Editing by David French)

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