24 Apr 2008
Zain, the Middle East and African mobile operator, announced consolidated gross revenue for the first quarter of 2008 of USD1.673 billion, up 23% compared to the same period of 2007. Consolidated EBITDA increased by 25% to USD648.7 million and consolidated net profits increased by 10% to USD270.5 million. Year-on-year customer growth across the two continents where Zain operates was 54% resulting in a total of 45.7 million active subscribers as at 31 March 2008. The company plans to continue investing in upgrading and expanding its mobile networks both in the Middle East and Africa during 2008 focusing in particular on Iraq, Nigeria, Sudan and Saudi Arabia.