Kuwait Telecommunications Company (VIVA) announced its financial statements for the fiscal year ended December 31, 2014.

The statements have reflected net profit of KWD40.36 million ($136.5m) for 2014 compared to KWD24.25 million for the previous year, with growth by 66.4%.

Meanwhile, the company has achieved net profit of KWD11.08 million for the fourth quarter of 2014 against KWD9.94 million for the corresponding period of previous year, with increase by 16.8%.

In related development, the company's Board of Directors has offered a recommendation to hold dividends distribution for 2014, provided that the approval of the competent parties.