Zain Reports H1 688734

Net income up 17% year-on-year at Kuwaiti operator

August 1, 2011

1 Min Read

KUWAIT -- Zain announces today its consolidated financial results for the half year ended 30 June, 2011.

The results showed healthy growth in several key performance indicators. It’s important to note that the below mentioned net profit and percentage growth result excludes and does not take into account the capital gain from the sale of the Zain Africa assets that was concluded on June 8, 2010.

For the first half of 2011, the Zain Group recorded consolidated revenues of KWD 659.4 million (US$ 2.381 billion), reflecting a positive 2% increase on the same period in H1-2010. The period witnessed net income increasing to KWD 140.2 million (US$ 506.5 million), an impressive 17% increase on the same period in H1-2010. The company’s consolidated EBITDA reached KWD 293.1 million (US$ 1.058 billion) up 6% on H1-2010, reflecting an EBITDA Margin of 44% (up one percentage point) with EBIT of KWD 210 million (US$758.3 million), a 6% increase on H1-2010. The earnings per share reached 36 fils (US$0.13).

Year-on-year customer growth across all operations in which Zain operates was 16%, whereby the company was serving 39.6 million managed active customers as of June 30, 2011. Zain Group added 5.4 million new active customers over the past twelve months with growth predominantly coming from Saudi Arabia which witnessed 32% growth to serve 9.1 million customers and Sudan with 24% growth serving 11.4 million. Zain Kuwait also increased its customer base by 7% reaching a milestone 2 million customers, along with increases in Jordan 5.5% and Iraq 5.2% to each be serving 2.7 million and 12.3 million customers respectively.

Zain Group

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