First quarter sales up 1% at Zain Group

8 May 2012

Kuwait’s Zain Group has reported a 1% year-on-year increase in first quarter revenues to KWD325.7 million (USD1.17 billion), while EBITDA and net profit both climbed 2% to reach KWD150.8 million and KWD70.9 million respectively. The group controlled 40.3 million active subscribers across its operations in Kuwait, Saudi Arabia, Bahrain, Iraq, Jordan, Sudan, South Sudan, Lebanon and Morocco at the end of March 2012, up 7% from twelve months earlier. Zain Group’s chairman, Asaad Al Banwan, commented: ‘The local, regional and international markets continue to suffer from the global financial crisis, which imposes more challenges on the Group’s operations, yet in spite of this, Zain has managed to maintain encouraging growth rates during this difficult period.’

Kuwait, Zain Group