Viva Kuwait [VIVA.KW] released 1Q2016 headline figures. The company’s 1Q2016 net income reached KWD9.8 million, representing a 5% Y-o-Y decline. This is despite a 6% Y-o-Y growth in top-line, which totaled KWD70.5 million. The decline most likely stemmed from a hike in operating expenses as 1Q2016 net operating profit declined by 14% Y-o-Y to stand at KWD10.5 million. (Company disclosure)
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