Tuesday, 20 February 2018 01:18 GMT
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Saudi- Zain narrows net loss to SR318m

(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.


Saudi- Zain narrows net loss to SR318m

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