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Kuwait's Zain Q3 net profit down 52.8 pct

Sun Nov 15, 2009 7:02am EST

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KUWAIT, Nov 15 (Reuters) - Kuwaiti mobile telephone firm Zain (ZAIN.KW), the Gulf Arab region's third-largest in the sector by market value, posted a 52.8 percent fall in third-quarter net profit.

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Net income in the three months to Sept. 30 was 41.19 million dinars ($144.3 million), Zain said in a statement on the bourse website on Sunday. The firm made 87.2 million dinars in the third quarter last year.

Cost Investment had forecast Zain's third-quarter net profit at 89.89 million dinars, while SHUAA Capital expected Zain to post 90 million dinars. [ID:nL4413255]

(Reporting by Rania El Gamal; Editing by Inal Ersan)

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