Zain reports 36% jump in 9M sales

13 Nov 2007

Kuwait’s Zain group has reported a 36% rise in consolidated revenues for the first nine months of this year to USD4.273 billion. EBITDA increased 28% to USD1.840 billion, while net income rose 12% year-on-year, from USD731.7 million to USD820.5 million. The group, which was formerly known as MTC, says it was serving almost 36.5 million active cellular subscribers in 22 countries across the Middle East and Africa at the end of September, up 49% from a year earlier. Dr Saad Al Barrak, CEO of Zain, said: ‘We are confident that our resolute efforts in the launch of the new brand identity will propel the company to becoming a top-ten global mobile operator by 2011. Our most recent licence acquisitions in Ghana, Iraq and the Kingdom of Saudi Arabia, all three economic powerhouses in their own right, will positively contribute to our future growth.’

Zain Group