Zain posts increased revenues in 2007

Kuwait-based mobile operator Zain, formerly MTC Group, recorded full-year revenues of USD5.91 billion, up 32% from 2006. EBITDA rose 25% year-on-year to USD2.56 billion, and net profit grew 11% to USD1.13 billion. The company finished the year with 42.4 million active customers (including three million Iraqna customers formally acquired on 31 December 2007), compared to a total 27 million customers at the end of 2006. Zain operates in 22 countries across the Middle East and Africa. It employs the Zain brand in the Middle East and North Africa region, the Celtel brand in sub-Saharan Africa, and operates as MTC-Touch in Lebanon.