Zain Group net income increases 3% to reach KD 38 million (USD 125 million), generates revenues of KD 247 million (USD 810 million) for Q1, 2017
May 2, 2017
- Mohannad Al-Kharafi: Board to ensure all strategic partnerships and investments are geared towards maximizing shareholder value and driving the business forward
- Bader Al-Kharafi: Focused on further innovation in digital services and collaboration with leading technology players across the globe
- EBITDA margin stands at 43.4%, customers served total 46.1 million
- Data revenues continue to grow, represent 25% of total Group revenues
- Significant currency devaluation in Sudan, continued social unrest in several markets and intense competition in Iraq and Kuwait impacts results
- Excluding currency translation impact, net income would have grown by 27%
- The success of Zain Saudi Arabia’s turnaround program highlights the quarter
Zain Group Chairman - Mohannad Mohammad Al-Kharafi (left) & Zain Group Vice Chairman and Group CEO - Bader Nasser Al-Kharafi (Right)
Kuwait – 2 May, 2017
Zain Group, a leading mobile telecom innovator in eight markets across the Middle East and Africa, announces its consolidated financial results for the first quarter (Q1) ending 31 March 2017. Zain served 46.1 million customers at the end of the period, reflecting a 1.4% increase year-on-year (Y-o-Y).
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