Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Zain narrows net loss to SR318m  Join our daily free Newsletter

MENAFN - Arab News - 17/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Zain saudi arabia (zain ksa) recorded a significant 45 percent rise in ebtida during the first quarter of 2014 reaching sr300 million (80 million) up from sr207 million (55 million) in q1 2013. the company also succeeded in increasing its ebtida margin to 19 percent up from 12 percent during the same quarter in the previous year.

the company reported narrowing its net loss for the period by 20 percent year-on-year (y-o-y) to reach sr318 million (85 million) at the end of q1 2014 also representing a 31 percent drop in net loss quarter-on-quarter.

data traffic continued to grow exponentially during the quarter with the number of mobile data users increasing by 56 percent year-on-year and by 32 percent as compared to q4 2013. this increase contributed to a phenomenal 68 percent rise data service revenues during q1 2014 as compared to the same period in 2013 and a 23 percent increase as compared to the fourth quarter of the previous year.

the first quarter also saw an increase in gross profit to sr799 million (213 million) and a rise in profit margin to 52 percent compared to 45 percent in q1 2013 and 50 percent in the previous quarter.

zain ksa's 4g network coverage expanded to cover 51 percent of populated areas during the quarter as a result of an increase in network locations which numbered 5918 sites at the end of the first quarter covering 94 percent of the population with voice services.

farhan bin naif al-faisal aljarbaa chairman of the board of directors said: 'zain ksa has revamped its capital structure which has helped constructively build for a brighter stronger future."

hassan kabbani ceo zain ksa stated that the company is currently focused on reinforcing its position in the market by offering the best services available and capturing opportunities in the data arena.


 


Arab News




  MENA News Headlines
 Apr 27 2015 - Kuwait's inflation increases 3.33 percent in Q1MENAFN
(MENAFN) Kuwait's inflation rate increased by 3.33 percent by the end of the first quarter, compared to the corresponding period a year earlier, according to the Central Statistical Bureau (CSB), ...

 Apr 27 2015 - Dubai real estate businesses hit USD17.4b in Q1MENAFN
(MENAFN) Dubai's real estate sector total deals contributed in a sum of about USD17.4 billion in the first quarter of the year, marking a surge by USD816.66 million year-on-year, Arabian Business ...

 Apr 27 2015 - Saudi insurance sector records USD200m profit in 2014MENAFN
(MENAFN) The 37 listed Saudi insurance firms recorded an accumulated profit of USD200 million in 2014, compared to USD380 million losses recorded back in 2013, Gulf News reported.With such results, ...

 Apr 27 2015 - Nahyan bin Mubarak crowns winners of Show Jumping ChampionshipEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development, has crowned the winners of the 5th Show Jumping Championship of Sheikh ...

 Apr 27 2015 - Abu Dhabi Businesswomen Council reports that 88 percent of businesswomen have no obstacles managing their own enterprisesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Emirati women are considerably participating in economic development, as figures issued by Abu Dhabi Statistics Centre show that relative participation of female ...

 Apr 27 2015 - Dahi Khalfan opens Gulf Information Security Expo and Conference 2015Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Amid the current climate of escalating cyberattacks, information security breaches and staggering profit losses, Lieutenant General Dahi Khalfan Tamim, Deputy ...

 Apr 27 2015 - Qatar's Al Meera records USD11.82m profit in Q1MENAFN
(MENAFN) Al Meera, Qatar's leader in retail industry, recorded USD11.82 million net profit in the first quarter of the year, marking a persistent increase by 10 percent, Gulf Times reported.Al Meera ...

 Apr 27 2015 - Dubai textiles and fabrics trade valued at over AED16 billion in 2014Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The value of the textiles and fabrics trade in Dubai in 2014 was around AED16.4 billion, with AED10.14 billion in imports, AED1.3 billion in exports, and AED4.22 ...

 Apr 27 2015 - UAE- DFM Company posts net profit of AED 67.7 Million during the first quarter of 2015Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai Financial Market Company (PJSC) today announced its financial results for the first quarter of the year ending March 31st 2015, posting a net profit of AED ...

 Apr 27 2015 - Nakheel invites young Emiratis to be part of Dubai's future at Careers UAEEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Master developer - Nakheel - is inviting young Emiratis to be part of the future of Dubai through an aggressive recruitment campaign to be launched at Careers ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help