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Kuwait's Zain sees 2008 net profit up 5 pct

KUWAIT (Reuters) - Kuwait's Mobile Telecommunications Co ZAIN.KW (Zain) confirmed on Wednesday its 2008 goal of 5 percent net profit growth after posting a 1.2 percent rise in third-quarter net profit.

“Yes,” Zain spokesman Ibrahim Adel told Reuters when asked whether the full-year goal was still valid, adding that investments in new operations such as Saudi Arabia had been weighing on third-quarter net profit.

Reporting by Ulf Laessing; Editing by Firouz Sedarat

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