Zain Saudi reports first quarter losses

22 Apr 2009

According to Gulf Times, Zain Saudi Arabia has reported net losses of SAR765.4 million (USD204 million) for the three month period ended 31 March 2009. The country’s third mobile operator, which launched commercial services on 26 August 2008, has stated that the losses are ‘normal for a firm that has recently started operations in the telecommunications sector, which requires large capital and marketing expenditure upon inception and start of operations.’ The company posted first-quarter revenues of SAR581 million.

Saudi Arabia, Zain Saudi Arabia