Ooredoo Kuwait continues earnings slump with 28 pct Q2 profit drop

DUBAI, July 25 (Reuters) - Mobile operator Ooredoo Kuwait reported a 28 percent fall in second-quarter net profit on Monday, continuing its earnings slump as revenue fell. The subsidiary of Qatar's Ooredoo competes domestically with Zain and Saudi Telecom Co (STC) affiliate Viva Kuwait. Ooredoo Kuwait made a net profit of 9.07 million dinars ($29.98 million) in the three months to June 30, it said in a statement. This compares with a profit of 12.6 million dinars in the year-earlier period. EFG